TDS of Prior period
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....DS of Prior period<br> Query (Issue) Started By: - chaganti srinivas Dated:- 4-11-2009 Last Reply Date:- 9-11-2009 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear Sirs, As per the latest Income tax ....
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....circular, TDS from transporter is nil from 01.10.2009. If the service rendered by transporter is prior to 01.10.2009 and submits the bill after 01.10.2009, is TDS Deductable ? - Please clarify. Reply....
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.... By DEV KUMAR KOTHARI: The Reply: See sub-sections (1) and (6) and (7) of section 194C as substituted w.e.f. 01.10.2009. The date of credit or payment which ever is earlier is relevant for TDS. Date ....
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....of submission of bill is not relevant, in case you have provided liability or paid some advance earlier. In case a/c of party is credited on or after 01.10.09, new provision will apply. In case any pa....
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....yment ws made or partys a/c was credited before 01.10.09, then the old rate will apply. Before not doing deduction, you must obtain valid PAN of party and file details / form to the concerned authori....
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....ty in a form which is yet to be prescribed. Reply By Surender Gupta: The Reply: The views of Mr. Kothari are laudable. All depend on the date the amount is credited in the books of account or the dat....
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....e on which the payment is made.<br> Discussion Forum - Knowledge Sharing ....


TaxTMI
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