Turnover of July 2021: 2,15,00,000/-
TDS to be deducted: 2,15,00,000 minus 50,00,000 = 1,65,00,000/-
TDS @ 0.1%= 16,500/- (165 Lakhs* 0.1%)
OR
TDS @ 0.1% Full Turnover : 21,500/- (215 Lakhs * 0.1%)
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194Q: Petrol Pumps
Replies (3)
The value on which TDS shall be charged is the sum left after deducting ₹50 lakhs from the total value
Total value (-) ₹50 lakhs= value on which TDS shall be charged
On 1,65,00,000
16500000₹
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