Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Very urgent

Save Share

This query is : Resolved

deepa kapoor (Querist)
Follow

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?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

27 August 2013 tds to be deducted on gross amount of 1,00,000 only.

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

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

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now