TDS on MSME Firm providing Renting and leasing of machinery, equipment
This query is : Resolved
04 October 2023
Hello, Could anyone please help me on the below query
We receive a service of Renting and leasing of machinery, equipment from a partnership firm tothis service the firm charges Hiring Charges & issued one bill on July amounting Rs. 249958/-(Basic amount-211829/-) to which TDS was not deducted.
Now the party has registered as a MSME & provided Udyam Certificate registered on 16.09.2023.
Should we deduct TDS in there upcoming bills?
We receive a service of Renting and leasing of machinery, equipment from a partnership firm tothis service the firm charges Hiring Charges & issued one bill on July amounting Rs. 249958/-(Basic amount-211829/-) to which TDS was not deducted.
Now the party has registered as a MSME & provided Udyam Certificate registered on 16.09.2023.
Should we deduct TDS in there upcoming bills?
05 October 2023
Yes deduct TDS at 2% on the upcoming bill.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
