TDS Adjustment Under 194 C
This query is : Resolved
16 January 2010
TDS deducted on Payment basis before 1.10.09 under 194 C and bill was made after 1.10.09 when TDS rates are reduced can we adjust the same for final calculation........
Aditya Maheshwari
(Expert)
16 January 2010
No. TDS rates should be as on the date of payment or credit whichever is earlier. So no adjustment needed
CMA Ramesh Krishnan
(Expert)
16 January 2010
If your invoice amount is more you can deduct the Balance amount to the present rate
Aditya Maheshwari
(Expert)
18 January 2010
Two contrary views expressed above. Someone needed to bail Manish out.
I still stand by my view.
I still stand by my view.
CMA Ramesh Krishnan
(Expert)
18 January 2010
Dear Aditya
My view is Suppose payment made Rs.10000 before 1.10.2009 with the rate 2 % but the invoice is recd 12000 after 1.10.2009 the balance Rs.2000 the TDS rate will be present rate not the rate before 1.10.2009
My view is Suppose payment made Rs.10000 before 1.10.2009 with the rate 2 % but the invoice is recd 12000 after 1.10.2009 the balance Rs.2000 the TDS rate will be present rate not the rate before 1.10.2009
Aditya Maheshwari
(Expert)
18 January 2010
Agreed. Same view differently worded
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