27 February 2008
ABC TV billed to an advertisement agency as follows:
Total bill Rs.1,00,000/- Less: Agency Commission Rs. 15,000/- Net Rs. 85,000/- Add:Service tax Rs. 10,506/- Total bill Rs. 95,506/- My question is what is the accounting treatmentIn the book of ABC tv. Whether there is any TDS treatment for For Agency commission. Rs.15000/- which is not actually paid to advertising agency. Please do the needful.
27 February 2008
tds is to be deducted u/s 194c of the income tax act @ 1% on gross amount +ed cess and shec total bill is rs 95506/-so you will deduct tds of about amount.it is immetarial whether ABC Co. paid or not you paid to ABC Co.
CAclubindia
