Tds applicability against bills payable

[natarajan padmanabhan]

sir Is TDS to be deducted against bills payable on due basis or after payment of total consideration padmanabhan.n

AI Summary

Clarification on TDS: Deduct when paid or credited, whichever is first, but salary TDS is on payment basis. A participant inquired about the timing of TDS deduction on bills payable, questioning whether it should occur on a due basis or after the total consideration is paid. The response clarified that generally, TDS should be deducted when the amount is either paid or credited to the books of account, whichever occurs first. However, it was noted that TDS on salary is specifically payable on a payment basis.