HAI
X LTD. PAID RS.1,05,000(AGGREGATE) TO HIS SUB CONTRACTOR(MR.Y).BUT MR.Y PROVIDED LABOUR SERVICE ONLY FOR RS.65,000( AGGREGATE) FOR WHICH INVOICES ALSO AVAILABLE.HERE NO SINGLE TRANSACTION WAS MORE THAN RS.30,000.SO WHETHER TDS TO BE DEDUCTED FOR MR.Y.
THANKYOU IN ADVANCE
Hi
Thank you for the reply
Kindly verify Section 194 C. The nature is payment made to sub contactor for providing labour and TDS Limit is 1 lakh in aggregate and 30K for a single transaction.
Thank you sir
But please give an answer for the question
yes as raja p m said kindly please be elaborate on the nature of excess billing ?
Nature of payment - Sec 194 C
Amount paid - Rs 105000
Service received - Rs 65000
Balance as advance - 40000
| Originally posted by : Durgesh Mourya | ||
 |
ACTUALLY YOU NEED TO UNDERSTAND, PAYMENT OF TDS APPLY ON PAYMENT, NOT ON WORK. YOU SAID 1,05,000. SO TDS APPLY ON THIS.BY ACCOUNTING OF YOUR BILLS, YOU CAN TAKE REFUND LATER |  |
(PAYMENT OF TDS APPLY ON PAYMENT, NOT ON WORK. YOU SAID 1,05,000.)
Is it, If PY Outstandings...?
| Originally posted by : rohit tibrewal | ||
|
TDS is payable on invoice credited and payment made whichever is earlier. So, X Ltd. Deduct TDS on 1,05,000 | |
Dear.,
What is Your reply as per Mrs. Elavarsi's question...?
If it's PY's Outstandings...?
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