Tds on vatav / kasar amt
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 May 2013
INCASE WE CREDIT RS 90000/- AGGREGRATE IN ONE FINANCIAL YEAR FOR LABOUR WORK FOR CONTRACTOR AND IN SAME FINANCIAL YEAR WE DEBIT CONTRACTOR LEDTER FOR RS 5000/- FOR KASAR VATAV. SO WE MUST DEDUCT TDS FOR RS 90000/- OR RS 85000/- GIVE ANSWER WITH EXAMPLE AND RELEVANT NOTIFICATION FOR IT (WE HAVE TO PAY RS 85000/- ONLY TOTAL WITH TDS)
14 June 2013
I have already replied your question. You have to deduct TDS on gross amount and not the net amount after debiting the contractor for VAT or for any other purpose.
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