TDS Deduction Under Sec 194C

This query is : Resolved

Anil Sharma (Querist)
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12 August 2023 A (Partnership Firm) agreed to supply work contract services to B.

B made advance payment to A amounting to Rs. 100000 on dated 01.01.2023

A issued invoice of work contract to B amounting to Rs. 590000 which includes GST of Rs. 90000 so the taxable value is Rs. 500000 on dated 05.01.2023

What amount of TDS should be deducted and on what amount ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 August 2023 2% TDS applicable under section 194c on 6 lacs including advance.

Anil Sharma

Anil Sharma (Querist)
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12 August 2023 So Payment Of Advance Cannot be adjusted against TDS required to be deducted on Rs 500000
Means TDS already deducted on 100000
Remaining TDS to be deducted on 400000

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 August 2023 I thought you have not deducted TDS on advance.
In such a case of TDS already deducted on advance now deduct TDS on 4 lacs only.

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