tds on contract cancellation
This query is : Resolved
kumargajen
(Querist)
07 May 2008
dear sir!
my company was having one service contract with nokia.
Due to some reason this contract has been cancelled.
we have raised a debit note on nokia.
When they released our payment they have deducted TDS on this amount.
I think it should not be deducted.they have deducted this tds under 194c
Please clear this issue.
Gajendra
my company was having one service contract with nokia.
Due to some reason this contract has been cancelled.
we have raised a debit note on nokia.
When they released our payment they have deducted TDS on this amount.
I think it should not be deducted.they have deducted this tds under 194c
Please clear this issue.
Gajendra
O.D.SHARMA
(Expert)
08 May 2008
Your querry is not very clear. But for service contract 94c is applicable & nokia is right in deducting TDS .U can adjust it in future with return of IT
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