deducted on whole of the amount i.e. 55000.calculation is 55000*10% =5500 Rs.(tds amount)
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194j query
DS IS TO BE DEDUCTED ON 55000 ,WHOLE AMOUNT...
on whole amount
TDS will apply on whole amount i.e. 55000/-
Once the threshold limit is touched the assessee has to made the TDS on whole amount i.e. 55,000/-
can any body explain the concept of REVERSAL OF INPUT TAX CREDIT in case of branch transfer....urgent....
thnks
Ankit Bhutani
CA Final
On whole amount
Hey reply me....guys...
0% TDS IF AMOUNT IS LESS OR EQUAL TO 30000/-.OTHERWISE IT IS 10%.
TDS ALWAYS APPLIED ON FULL AMOUNT THAT IS 55000/-...THATSY IT IS CALLED DEDUCTION AT SOURCE...
ALTHOUGH IT IS ASSUMED THAT DEDUCTEE HAVE HIS PAN
Tds is applicable on Rs 55000/-
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