Dear Members,

In case of Supply contract TDS not deductible as per IT act.
Please clarify following situation how tds will be treated
Situatio : In case Contract Value 100 Lacs , If we made 1st 2 payment has 10 lacs each without deduction of TDS due to supply contract. While releasing 3rd & 4th paymen Rs. 10 Lacs each wrongly deducted tds. Our question is
1. while releasing balance payment of Rs. 60 lacs whether we need to deduct tds ?
2. Further first 2 payment also attract TDS ?

Note : all the transaction made in F.Y. 2008-09

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Hi Freieds,

Whether TDS to be deducted on Tax inclusive Amt.(Like Ser.Tax, Vat etc) or same to be deducted on exclusive such Taxes. For Exaple I require to deduct the TDS on Professional Fess of Invoive Rs.56180/- which includes Rs. 6180/- as Service Tax.So should I deduct TDS on Rs. 56180/- Rs.50000/-(Rs.56180-6180 Ser.Tax)

Thanks