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TDS

Pandiri Ramu (Business Analyst) (613 Points)

28 November 2007

pls clarify

As Invoice pertaing to Mar'07 but the Invoice booked on Nov'07 for this which one is applicable as TDS. i.e. 5.65% or 10.33%

Advance Thanks,

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8 Replies

CA Anil Jain (Chartered Accountant) (696 Points)
Replied 28 November 2007

The TDS is deducted on due date or payment date whichever is earlier in ur case TDS is being due in nov.07 so TDS will be deductible at the rate 10.33%. iF U Choose 5.65% then U hav to revisethe return & moreover interest will apply.

Pandiri Ramu (Business Analyst) (613 Points)
Replied 28 November 2007

Thanks for the Information.

CA Anil Jain (Chartered Accountant) (696 Points)
Replied 28 November 2007

Plz let me know any new information abt TDS.

(Guest)

Can TDS applicable on capital expenditure like as Building costrustion contract ? If yes ,what will hapen in the case of not deducting of TDS.

shyam kishor porwal (Chartered Accountant) (183 Points)
Replied 29 November 2007

TDS is applicable as on contract and rate is 2%

(Guest)

can any one arrange te notes of ISA , information system audit

(Guest)

we ave developed the website throughh the INDIAMART. com for our business is it business promotion expenditure or advertisement expenditure whether TDS on the payment will be deducted or not at what rate either professoinal rate or advetising rate the payment is of RS. 40000/-

CA Anil Jain (Chartered Accountant) (696 Points)
Replied 03 December 2007

Plz let me know the tems & Condition of ur Contract/ Work.Whether it is one time contract or otherwise? If it is inthe nature of advertisement contract & amt.is same in all times TDS will be apply @ 1% & surcharges (if applicable 10%)+edu.cess @ 3%.