194C
This query is : Resolved
21 October 2009
Hello
With effect feom 01.10.2009, tds rates u/s. 194C has been reduced to 1% for individuals and HUF.
If part payment of a bill was made in September deducting 2% tds and balance payment is to be made in October, then tds should be deducted at what rate.
Regards,
Jyoti
With effect feom 01.10.2009, tds rates u/s. 194C has been reduced to 1% for individuals and HUF.
If part payment of a bill was made in September deducting 2% tds and balance payment is to be made in October, then tds should be deducted at what rate.
Regards,
Jyoti
21 October 2009
TDS on advance payment attract at old rate now you are booking exps. New rate applicable on part of exps.
21 October 2009
Thank you for the reply.
The expenses paid earlier were not advance payment. They were against part payment of the same bill whose balance will be paid now.
Is the reply same.
The expenses paid earlier were not advance payment. They were against part payment of the same bill whose balance will be paid now.
Is the reply same.
21 October 2009
NO WHEN EXPS BOOKED AT THAT TIME tdS TO BE DEDUCT. IF YOUR HAVE NOT DEDUCT IT EXPS. WILL DISALLOWED.
21 October 2009
Agree with expert.
Just want to add that if you have booked the entire expenses in Sept'09 and credited the receipient in Sept'09 then
you have to deduct at old rate as sec 194 says paid or credited whicever is earlier.
Just want to add that if you have booked the entire expenses in Sept'09 and credited the receipient in Sept'09 then
you have to deduct at old rate as sec 194 says paid or credited whicever is earlier.
21 October 2009
TDS has to be deducted at the time of credit or payment which ever is earlier.
Since you have credited in September you should deduct TDs @ 2%.
Since you have credited in September you should deduct TDs @ 2%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
