Meaning of Paid and credited while furnishing income tax returns
This query is : Open
03 March 2022
What is meaning of Credit and Paid in furnishing income Tax returns.
Paid meaning Paid to Party + TDS amount
Credited meaning Total Invoice Value.
Paid meaning Paid to Party + TDS amount
Credited meaning Total Invoice Value.
Eswar Reddy S
(Expert)
04 March 2022
For Tds purposes paid means
basic amount before inclusion or exclusion of taxes .
If payable amount is 100000/- & Tds deduction 10000/-
You must show 100000/- as amount paid or credited .
Amount credited means amount credited to bank account or amount credited to ledger account in the accounts
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