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?
1. No need.
2. You ll be deduct all the Bills for the entire FY. That's better way....
CAclubindia
