Dear All,
Pls guide "we should deduct TDS on Gross Bill Amt, i.e before Discount Or Net payable Amt, i.e After Discount.
Dear All,
Pls guide "we should deduct TDS on Gross Bill Amt, i.e before Discount Or Net payable Amt, i.e After Discount.
TDS is to be deducted on net amount i.e actual credit to party account or amount payable.
TDS should be deducted on the amount actually payable to the creditor..
| Originally posted by : CA. Subhash Dangi | ||
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TDS is to be deducted on net amount i.e actual credit to party account or amount payable. |
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agree
Agreed with above people...!!!
In the case of TDS on Salary
Gross amount should be decreased with allowable limit of deductions ex- Savings u/s 80C upto Rs.8333 per month.
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