Query
This query is : Resolved
28 April 2015
We have paid Rs 1,70,000 in April 2014 to our contractor. it is a proprietary concern. The contractor has given us his PAN but he has not given his bill till today due to some dispute. If 1,70,000 is treated as net amount, tds working will b as follows Gross 1,71,717 less tds 1,717. If 1,70,000 is treated as gross amount, tds working will be as follows Gross 1,70,000 less tds Rs 1,700/= In this case what should I do Please guide me.
28 April 2015
what is the contract price ???
or it is a part payment
or it is a part payment
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28 April 2015
The total contract was as of Rs 3,50,000/- as against which we had paid Rs 1,70,000/- on account of part payment but due to some dispute the contractor stopped the construction work.
28 April 2015
Gross amount 171717
TDS 1717
Total payment 170000
TDS 1717
Total payment 170000
28 April 2015
Lot of thanks for your quick response
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