Very urgent
This query is : Resolved
27 August 2013
If Bill amt is Rs 100000 and payment made is 80000 without cutting TDS then now provision has to be made for TDS on 80000 or on 100000? and how will the int on delayed payment calculated i.e. from the date of payment of bill or from the date of expenses booked?
27 August 2013
tds to be deducted on gross amount of 1,00,000 only.
27 August 2013
1)TDS to be deducted on 100000,,pass TDS deducted entry now,,with date of invoice booked date,,so that payable to party will come down and payable to govt(TDS) will increase
2)interest is to be considered as per section 201(1A)
3)if tds deducted and now deposited--1.5% per month from date of deduction
if tds not deducted-1 % PM from date from which tds deductable
2)interest is to be considered as per section 201(1A)
3)if tds deducted and now deposited--1.5% per month from date of deduction
if tds not deducted-1 % PM from date from which tds deductable
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