Tds deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2015 Dear Sir,

I receive a Advertisement bill on 15/05/2015 for Rs. 16000 and on same date i made payment by bank for Rs. 16000. Now, On 27/07/2015 i receive again an advertisement bill from same party for Rs. 15000 and i made payment of the same on the same date by bank. I wants to known about my TDS liability requirement.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
Follow

31 July 2015 from whom u getting the bill... a local vendor.. ???

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

31 July 2015 Yup dear TDS will b applicable u/s 194J. Hence u must deduct the whole TDS in the 2nd bill.

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2015 @ Ankit sir
From local partnership firm

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2015 @ Sandip dharar Sir,
I think advertisement expense is consider u/s 194C

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

31 July 2015 No dear, its comes under profession fees, if the advertisement firm has certain certificate for that, and if not then u can treat it as contract.

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
Follow

31 July 2015 TDS on advertisement services falls under section 194C. As per Section 194C TDS is required to deduct if anyone bill exceeds 30000 or gross bill crosses Rs 70000/- during a financial year. TDS will be @2% on partnership firm.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now