Lower deduction certificate
Querist : Anonymous
LDC = Lower Deduction Certificate
LDC limit RS. 26,12,90,000/-
LDC Period : 30/4/2015 to 31/03/2016
LDC printed date : 25/10/2015
LDC received date : 01/11/2015
Period TDS Rate Expense booked Payment made
01/04/2015 to 31/10/2015 2% 192701217 155719862
01/11/2015 to 31/12/2015 0.87% 76903268 60688196
01/01/2016 to till date 0.87% 12686235 26623600
Total 282290720 243031658
Limit 261290000
Now my question is we have considered lower deduction on Apex. 9 crore and limit is Rs. 26.12 crore but if we consider period from 01/04/15 limit exceeds Rs. 26.12 crore, so should I start deducting tds @ 2%??? If yes from which month January or February??
Please reply it is urgent…
Thanks in advance
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Cash balance limit and property purchases limit
- NRI starting business in India
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Journal entry of busniess expenses
- Bank details not Visible on Traces Portal
- Invertaded duty struture
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
