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Tds applicability on bill value or payment value

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(Querist)
25 September 2012 A Contract bill received from a party Rs.60000/- for a contract work. Rs.50000/- payment made after a week. Remaining balance of Rs.10000/- discount allowed by contractor. Whether TDS applicable on Bill amt.Rs.60K or Net Amt.50K.?
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CA Ajay Wadhwani

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CA Ajay Wadhwani (Expert)
25 September 2012 TDS will be liable on 60000/- and not on 50000/-
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CA Navin Jain

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CA Navin Jain (Expert)
25 September 2012 IF ALL THING HAPPEN IN SAME MONTH THEN DEDUCT TDS ON RS 50K



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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
26 September 2012 Agreed with the reply of Navinji

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