Tds on advt.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 April 2013
Dear Sir,
WE ARE HEALTH CARE RETAILER SO WE CAN ALWAYS ADVT IN NEWS PAPER TROUGH OUR CONTRACTOR. AND THEY ARE PVT COMPANY SO WHAT RATE WE CHARGES TDS THEY ARE CONTRACTOR NOT IN NEWS PRINT MEDIA COMPANY.
2) THEY BILL AMOUNT IS 40500/- THEY GIVE DISCOUNT 5062/- Net PAYABLE AMOUNT IS RS.34628 SO WHICH AMOUNT APPLICABLE FOR TDS ???
WE ARE HEALTH CARE RETAILER SO WE CAN ALWAYS ADVT IN NEWS PAPER TROUGH OUR CONTRACTOR. AND THEY ARE PVT COMPANY SO WHAT RATE WE CHARGES TDS THEY ARE CONTRACTOR NOT IN NEWS PRINT MEDIA COMPANY.
2) THEY BILL AMOUNT IS 40500/- THEY GIVE DISCOUNT 5062/- Net PAYABLE AMOUNT IS RS.34628 SO WHICH AMOUNT APPLICABLE FOR TDS ???
CA. PIYUSH GOEL
(Expert)
01 April 2013
Dear..
you should deduct TDS @ 2% on amount of Rs. 34628/- i.e. after discount..
because as per sec. 194C any sum payable is there.. since discount is not payable to the party therefore not liable to deduct TDS on IT.
you should deduct TDS @ 2% on amount of Rs. 34628/- i.e. after discount..
because as per sec. 194C any sum payable is there.. since discount is not payable to the party therefore not liable to deduct TDS on IT.
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