For tds

Originally posted by : shaunak
	For tds Assesse : Company Dt.15.6.14 we recd advertisement bill amt 6000 so we r not dedcuted tds And now 14.8.14 again same party we recd advertisement bill 1. 42000 and 2. 8000 So I do ? Which amt I dedcted tds plz give me calculation

Hello Shaunk,

As per my knowledge, TDS will be deducted on whole amount if it exceeds Rs. 75000/- P.A.

And in your case its yet not exceed 75000, then you not need to deduct TDS out of amount paid. 

Thanks 

Anubhav 

You need to deduct TDS as the bill is of 42000/- which is more than 30000/-. Limit for 194C is 75000/- for whole year or 30000/- or more for one payment......

Dear All,

Please share WCT Return  sample  ( Noida )

Thanks & Regards

Surya Mani Singh

Dear All,

            Kindly conform that my journal entry are correct or not if not plz do tell me the correct one.

01)- samsung gave me service and raised invoice for it against me then my entries are:-

     Service ChargeDr.................

      TDS Payable. Dr.......

              To Samsung....

NOW on the time of payment.

     Samsug dr.

                To Bank.

02)- When i gave service to samsung and i raised invoice against samsung

        samsung Dr

               To Service charge 

               To service tax 12.36%

 On The time of payment

       bank Dr.

       TDS Dr.

               To samsung

     PLZ DO REPLY and Correct my Entries.....

currently tds to be deducted only on bill of 42000 only and not on any other bill...

yes your journal entries are correct...