TDS U/S 194 C .
under which head the amount will be shown.
actually my client made sales to bsnl . they have deducted tax @ . 1%. on the amount of purchase since the value is more than rs.30000
Menu
Defuction u/s 194c
Replies (3)
Show the deduction as TDS deducted in BSNL account in books of account
194C is contractor receipts. You will show the transaction under Contractual Receipts
This will be considered as Direct income/Revenue from Operation/Sales in the books of accounts of the seller.
Receivables from BSNL will reduce by the amount of TDS deduction.
TDS will be reported under the head current assets.
Recent Threads
- DGFT licence port mismatch with Postal (PAD) impor
- Tax on sale property (Land)
- Recruitment for Jr.Accountant.
- Refund of tax paid earlier
- WHY and which ITR just to declare company shares ?
- Contribution to political party
- 40+ single CA group
- Interest u/s 234B on updated return u/s 139(8A)
- GST registration documents
- Goods Return of FY 24-25
Related Threads
CAclubindia
