TDS on advance
This query is : Resolved
Quick Summary
Avinash Jeevan Dsouza
(Querist)
07 April 2020
We have paid Rs 3,00,000 to catering business and taken TDS at 1% on 19-03-2020 for FY 2019-20.
Now catering fellow as given bill dated 04-04-2020 for FY 2020-21 for Rs 8,00,000/-.
What to do now?
We need to take TDS for Rs. 5,00,000/-
Now catering fellow as given bill dated 04-04-2020 for FY 2020-21 for Rs 8,00,000/-.
What to do now?
We need to take TDS for Rs. 5,00,000/-
CA PARAS BAFNA
(Expert)
07 April 2020
Deduct TDS on 500000/ at the prescribed rate and deposit the same.
( Bill of a CATERER in Covid-19, quite interesting ,,,,,)
( Bill of a CATERER in Covid-19, quite interesting ,,,,,)
Message likes :
1 times
08 April 2020
Bill dated in FY 20-21. TDS deductible Rs 5.0 lakhs in FY 20-21. In FY 19-20 TDS deductible Rs 3.0 lakhs as advance payment...
Avinash Jeevan Dsouza
(Querist)
08 April 2020
@ CA PARAS BAFNA
Yes catering on COVID19. We can not let our hostel people without food.
Yes catering on COVID19. We can not let our hostel people without food.
KAVIRAJA ADDANGADI
(Expert)
08 April 2020
Balance 5lakh tds to be done as a.d when bill or payment which ever is early.
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