When to Deduct TDS (i) At the time of actual payment or credit, whichever is earlier: Tax is to be deducted at source a the

time of credit to the payee s account or on ac crual of the payment at the end of the accounting year or at the time of payment in cash or by cheque . or draft or by any other mode, whichever is earlier, in respect of the following payments: (a) Interest on securities (b) Internet on tome deposits with banks (c) Interest other than interest on securities (d) Payment to contractors (e) Payment to sub-contractors (f) Insurance Commission (g) Payments to non-resident sportsmen and sports associations (h) Payment of commission, etc. on sale of lottery tickets (i) Payment of commission or brokerage (j) Payment of rent (k) Payment of fees for professional and technical services (l) Payment of income on units of UTI or Mutual Funds upto 31.03.2003 (m) Payment of interest or any other sum (except salary and dividends subjected to additional income -tax u/s 115-O) to a non-resident (n) Payment of income/long-term capital gains in respect of units to an offshore fund (o) Payment of interest/dividend/long-term capital gains (p) Payment of income in respect of securities to a foreign institutional Invest or (ii) At the time of Actual Payment Tax is to be deducted at source at the time of actual payment in respect of the following payments: (a) Salaries (b) Dividends (c) Winning from lotteries, crossword puzzles, card games of other games (d) Winning from horse races (e) Payment on account of repurchase of units by Mutual Fund or Unit Trust of In dia under section 80CCB (f) Payment in respect of deposits under the National Saving Scheme (g) Payment of compensation/consideration for compulsory acquisition of any immo vable property(other than agricultural land