Please clear two doubts regarding 194C :
1. If the Net amount of all bills in the financial year is Rs. 90,000/- and the Bill amount is Rs. 1,10,000/- after adding Rs. 20,000/- GST on Rs. 90,000/-. Is TDS u/s 194C applicable?
2. I have received 3 bills form one vendor of Rs. 10,000/- including GST until March. In the month of March I have received a bill of Rs. 50,000/- including GST from the same vendor (please assume it's the last boll for the current F.Y.). Is TDS u/s 194C applicable on the last bill only or TDS will be deducted on all 4 bills?
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Confusion regarding 194C
Replies (10)
1. No need.
2. You ll be deduct all the Bills for the entire FY. That's better way....
2. You ll be deduct all the Bills for the entire FY. That's better way....
yes TDs need to be deducted
An employee joined in the month of Feb-2018 with salary of Rs.80,000/-per month.
fo for f.y.2017-18 i will be giving him 1,60,000/-payment which is below taxable limit.
so i need to deduct TDS for f.y.2017-18?
CHECK OUT HIS PREVIOUS EMPLOYMENTS AND CALCULATE THE INCOME THEN YOU CAN DEDUCT TDS AS PER YOUR VALUES...
Dear Sir,
is there any income tax notifications for the below mentioned problem,if yes please share income tax notification
If the Net amount of all bills in the financial year is Rs. 90,000/- and the Bill amount is Rs. 1,10,000/- after adding Rs. 20,000/- GST on Rs. 90,000/-. Is TDS u/s 194C applicable?
but sir if our company giving him salry of 1,60,000/-still we should deduct TDS?
it will look like 160,000/-salary credited from our company in form 16 issued to him
Value of supply on which TDS shall be deducted:
For purpose of deduction of TDS, the value of supply is to be taken as the amount excluding the tax indicated in the invoice. This means TDS shall not be deducted on the CGST, SGST or IGST component of invoice...
Some Times or Some Experts / Consultants will be deduct if the Total value of the bills is exceeding the Limit...
In case the Deductor will be deduct TDS for the above value then He Can...
| Originally posted by : Rudrayani Shedjale | ||
 |
but sir if our company giving him salry of 1,60,000/-still we should deduct TDS? it will look like 160,000/-salary credited from our company in form 16 issued to him |
 |
TDS ON SALARY FROM MORE THAN 1 EMPLOYER :
In case an employee changes his job and joins a new organisation, he may furnish to the new employer – a statement in Form 12b stating the salary received from the previous employer and the TDS deducted thereon. Based on the information furnished by the employer in Form 12b, the new employer will deduct TDS accordingly keeping in the mind the TDS on salary deducted earlier.
while filing TDS returns which amount i should show? amount of salry credited by our company or his entire income? i.e.salary from previous company also
Thank you @ RAJA P M.
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