TDS Adjustment Under 194 C

This query is : Resolved

manish (Querist)
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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

Aditya Maheshwari (Expert)
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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

CMA Ramesh Krishnan (Expert)
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16 January 2010 If your invoice amount is more you can deduct the Balance amount to the present rate

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 January 2010 Two contrary views expressed above. Someone needed to bail Manish out.
I still stand by my view.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 January 2010 Agreed. Same view differently worded

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