Party Bill
This query is : Resolved
Gopal Sahani
(Querist)
10 November 2009
We are participating in exhibition which is taken place in Feb'10.For this we have paid of Rs. 119000/- gaianst party bill dated 15.05.09 and deducted TDS accordingly.
Now we want to more spce in exhibition and rebooked the new stall and cancelled the old one.Party has sent the bill for the new one of Rs. 178000/- and date & bill no is same as it was in previous bill which was cancelled.
we have asked the party to send a bill for differnce amount.
My qeury is:
- Am I correct?
- Can we pay the amount against this bill?
Pl suggest how can redrease the matter?
Now we want to more spce in exhibition and rebooked the new stall and cancelled the old one.Party has sent the bill for the new one of Rs. 178000/- and date & bill no is same as it was in previous bill which was cancelled.
we have asked the party to send a bill for differnce amount.
My qeury is:
- Am I correct?
- Can we pay the amount against this bill?
Pl suggest how can redrease the matter?
10 November 2009
Stall rental is under 194I. Which section have you deducted under. 194C?
TDS is as and when you record the transaction or pay the bill whichever earlier. Therefore if his bill has been revised you credit his account only for difference even if the bill number is the same. Your voucher will be on account of difference in bill amount for second entry and you will deduct TDS when credit the account for difference or pay, whichever earlier. However, please check whatthey are billing you at. Rental for Land / Building or Part Thereof is 10% TDS u/s 194I and not 2% that you seemed to have paid. 80% of your bill will be disallowed till you make good the correct TDS.
TDS is as and when you record the transaction or pay the bill whichever earlier. Therefore if his bill has been revised you credit his account only for difference even if the bill number is the same. Your voucher will be on account of difference in bill amount for second entry and you will deduct TDS when credit the account for difference or pay, whichever earlier. However, please check whatthey are billing you at. Rental for Land / Building or Part Thereof is 10% TDS u/s 194I and not 2% that you seemed to have paid. 80% of your bill will be disallowed till you make good the correct TDS.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
