02 June 2010
Our creditor company given discount of Rs. 2.5 lakhs. & total bill is Rs.10 laks. Plz tell we can deduct TDS on total bill amount i.e. Rs. 10 lakhs or Rs. 7.5 lakhs.
02 June 2010
The TDS is to be deducted on credit or payment whichever is earlier. Since the credit entry will be made for full amount of 10 lakhs, TDS is to be deducted on 10 lakhs.
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