TDS Advance(urgent)

Dear all,
how to deal with TDS payment at the time down payment? Should we create separate withholding tax type and withholding tax code for TDS payment at the time of down payment just like in the case of TDS at the time for invoice and payment?
Please give some idea.
Will assign points.
Regards,
A.Anandarajan.

Hi
Tds used to be deduted at the time of payment or invoicing which one is ealier. Based on the contractor you have deducted accoring to the section (194-C).
Down Payment :-
Vendor A       950
TDS                50
Bank                  1000
Purchases :-
Purchases      3000
To TDS                   100
To Vendor A           2900
Final payment to Vendor :-
Vendor A    1950
TDS              50
Bank              2000
Warm Regards,
Sivakumar Sathiyamoorthy

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