Tds
This query is : Resolved
08 October 2016
We have purchased Easy Recharge from Reliance communication of 2,79,00,000 Rs they have given bill of Rs 2,90,00,000 but they have given TDS on 26 lakh rs of 2,60,000rs.
In this 26 lakh rs they have given 10 lakh rs directly to retailers(our customer,reliance is our supplier). Remaining amount to us
Now we want to claim TDS on 26 lakhs
How to show it in P & L??
How to claim it??
In this 26 lakh rs they have given 10 lakh rs directly to retailers(our customer,reliance is our supplier). Remaining amount to us
Now we want to claim TDS on 26 lakhs
How to show it in P & L??
How to claim it??
09 October 2016
Show 26 lacs as commission receipt and 10 lacs as commission paid to retailers in P&L account. Then 2.60 lacs TDS can be claimed in the IT return.
09 October 2016
Do we have to deduct tax on 10 lakh rupees
09 October 2016
yes if payment exceeds threshold of each person.
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
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TDS AND ITR ISSUE
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- 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
- EXPORT PAYMENT
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
