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
- Only a Few Pages Indexed by Google Despite Sitemap
- Share sale by promoter of public limited company
- Individual working for a firm to take sales orders
- BIN view site not working
- Settlement of advance by customer
- GST chow cause notice
- Un claim ITC
- Form 49AA - OCI card holder applying for PAN card
- Section 54f and Sale between father and Son.
- Demat of shares of private limited company
Related Threads
CAclubindia
