Dear Experts, I have a query related to TDS, we have raised tax invoice for services to the party for Rs. 1,00,000/- (GST), Party issued a Debit Note of Rs. 40,000/- + (GST) against the above Tax Invoice as well as we had also issued Credit Note for the same. Party paid a sum of Rs. 60,800/- to us after deducting TDS @ 10% on Rs. 1,00,000/-. Now party said that we have to deduct TDS on Credit Note i,e. on Rs. 40,000/-.
Should we liable to deduct TDS on the Credit Note issued by us or Debit Note issued by the party?
Thanks in advance
Recently (from 25-03-2023) E-Filing site showing Restricted Refund for some people and for some Bank accounts. For State bank of India shows as Eligible For refund and for again it showing as Restricted Refund. I checked with bank and it is not Inoperative account. Regular Transaction is there. No KYC problem and account is also validated & EVC enabled. Can anybody guide me regarding this issue.
Read more at: https://www.caclubindia.com/experts/restricted-refund-for-bank-accounts-in-e-filing-site-2894199.asp
I want to file my ITR for FY 2021-22, my total income is below 500000/- I am filing through ITR U but getting error as "if net payable is nil you can't file return" while filing return it shows me to pay Rs 1000/- as fee that i made through challan payment
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2. HOW MUCH LIMIT OF CASH WITHDRAWN FROM BANK IN A DAY AND ALSO IN A YEAR
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Since the interest is below the threshold limit (ie 2.5 Lakhs) please advise where to Claim the corresponding Exemption in ITR
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Should I need to fill both?
Can I get 50000 std deduction?
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Suppose i had given declaration for opted New tax regime or Old Tax regime while joining the company, and company has calculated my income tax on same basis and deducted TDS.
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and deduct the TDS under sec 92 in the month of March 2023 or there is no need to deduct TDS on rent portion.
ITR 1 and ITR 4
GST Practitioner Certificate Course 36th Batch
TDS on Credit Note & Debit Note