TDS Deduction Under Sec 194C
This query is : Resolved
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 ?
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 ?
12 August 2023
2% TDS applicable under section 194c on 6 lacs including advance.
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
Means TDS already deducted on 100000
Remaining TDS to be deducted on 400000
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.
In such a case of TDS already deducted on advance now deduct TDS on 4 lacs only.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- Liable to deduct tds and 44ADA
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Gstr7 vs Gstr3b 2026
- Gst return - cess
- Subscription paid to foreign customer
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
