Calculation of tds under sec 194c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 May 2016
Sir,
Whether opening debit balance of a contractor should be considered while calculating TDS for the FY. If a contractor "X" has Rs.10,000 Dr balance as on !st April and he subsequently issues an invoice of Rs. 25,000 as on 5th April, TDS on which amount TDS should be deducted Rs.25,000 or Rs. 15,000 ?
Whether opening debit balance of a contractor should be considered while calculating TDS for the FY. If a contractor "X" has Rs.10,000 Dr balance as on !st April and he subsequently issues an invoice of Rs. 25,000 as on 5th April, TDS on which amount TDS should be deducted Rs.25,000 or Rs. 15,000 ?
Gokul Sharma
(Expert)
24 May 2016
TDS SHOULD BE DEDUCTED ON INVOICE AMOUNT OF RS 25000
Rupesh Jain
(Expert)
24 May 2016
tds will be deducted total on rs. 25000/- if you already deduct on rs. 10000/- then now you deduct on rs. 15000/-
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