Tds on advance
This query is : Resolved
manoj sonalkar
(Querist)
13 April 2018
Dear Sir
We have entered into some professional service agreement.
The contract is as follows :
Basic Service Charge – 2,00,000
GST @ 18% - 36,000
Total Cost - 2,36,000
Party is demanding 30% Advance - Rs.70,800/-
(i.e. 30% of Rs.2,36,000/-).
Shall we Deduct TDS on RS.60,000/- (i.e.30% of Basic Service Charge i.e.Rs.2,00,000/-) or we shall deduct TDS on Rs.70,800/-.( on entire amount without excluding GST from this).
Please quote any circular / case for the above.
Thanks in advance,
We have entered into some professional service agreement.
The contract is as follows :
Basic Service Charge – 2,00,000
GST @ 18% - 36,000
Total Cost - 2,36,000
Party is demanding 30% Advance - Rs.70,800/-
(i.e. 30% of Rs.2,36,000/-).
Shall we Deduct TDS on RS.60,000/- (i.e.30% of Basic Service Charge i.e.Rs.2,00,000/-) or we shall deduct TDS on Rs.70,800/-.( on entire amount without excluding GST from this).
Please quote any circular / case for the above.
Thanks in advance,
Guest
Guest
(Expert)
13 April 2018
On 60,000.
CBDT circular no. 23/2017
CBDT circular no. 23/2017
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