Tax Deducted at Source
This query is : Resolved
sankar ponnan
(Querist)
08 September 2020
SIR
We are having two GTA - One is A - It is a Private Ltd, Other One is B - It is a proprietorship. No one has own trucks.
B agreed with their parties to provide transport services and is doing. B has to receive the bills from its sub-contractors for availing the trucks.
But the sub-contractors have issued the bills to A (Co.)instead of issuing to B by mistake.
Again A (Co.) issued bills to B by the same value of invoice issued by the Sub-contractors.
At the time of payment, A (Co.) has deducted tds @ 1% on the payments made to the sub-contractors.
In this case, B has to deduct tds @2 % on the payments to be made to A(co.)?
guide me plz
Adv thanks
We are having two GTA - One is A - It is a Private Ltd, Other One is B - It is a proprietorship. No one has own trucks.
B agreed with their parties to provide transport services and is doing. B has to receive the bills from its sub-contractors for availing the trucks.
But the sub-contractors have issued the bills to A (Co.)instead of issuing to B by mistake.
Again A (Co.) issued bills to B by the same value of invoice issued by the Sub-contractors.
At the time of payment, A (Co.) has deducted tds @ 1% on the payments made to the sub-contractors.
In this case, B has to deduct tds @2 % on the payments to be made to A(co.)?
guide me plz
Adv thanks
CA R SEETHARAMAN
(Expert)
08 September 2020
Yes, , B has to deduct tds @2 % on the payments to be made to A(co.
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