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(Querist)
16 March 2009 respected sir,
x ltd purchased good from y ltd ex-mill freight was to be paid by the x ltd ie purchasing party freight bill amt rs 30000 out of which x ltd got rs 6000 as discount so on which amount tds is to be deducted whether it is deducted on the gross amt ie rs 30000 or on net amt ie rs 24000 plese explain
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
16 March 2009 The amount credited to the party's account.

Since, it is a discount, Rs. 30000/- might have been credited. Hence TDS to be deducted on Rs. 30K.

On the other hand, if X Ltd had deducted the amount of Rs. 6K from the bill itself, the net amount will be credited to the transporter's account. Hence, TDS is to be deducted on 24K only.
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K V Subba Rao

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K V Subba Rao (Expert)
16 March 2009 If X Ltd could get a discount of Rs 6000 and paid in effect Rs 24000 only towards Freight, TDS has to be affected on Rs 24000 only
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