I want to know the correct TDS applicability on the below mentioned transaction
I have made an advance payment against performa invoice during the financial year 2020-21 @ 7.5% (Rs. 175000 @ 7.5% - 13125). But received original invoices during the financial year 2021-22 (175000 + Tax). Whether I am liable to TDS during the current financial year?. If Yes at what rate I have to remit the TDS. Am I liable to remit balance TDS @ 2.5%?.
CAclubindia
