Tds on deductions
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2015
One of professional service provider has raised bill of Rs.5 lacs.
We have to deduct Rs.2 lac (against previous bill already paid after deducting tds of Rs.20000, the same was related to other service which was not properly provided as per agreement & not pertaining to Rs.5 lac bill as above)
So, net payment will be Rs.3 lacs
whether tds is deductible on Rs.5 lac or Rs.3 lac ?
We have to deduct Rs.2 lac (against previous bill already paid after deducting tds of Rs.20000, the same was related to other service which was not properly provided as per agreement & not pertaining to Rs.5 lac bill as above)
So, net payment will be Rs.3 lacs
whether tds is deductible on Rs.5 lac or Rs.3 lac ?
CA R SEETHARAMAN
(Expert)
26 May 2015
If no liability in your books available for the balance 2 lacs deduct TDS on 3 lacs.
CA Mehta Ankur N.
(Expert)
26 May 2015
Amount of expense u book in ur books, deduct tds on same.
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