If service provided amounts to Rs. 10,000 and material purchased costs Rs. 50,000 and the vendor is same. TDS is applicable on excess of payment of Rs. 20,000 only on service and not on material purchased then will I have to deduct TDS? If yes then on which amount 10,000 or 50,000?
Menu
Plz Help
Replies (3)
Dear
From 1st July 2010 tds is applicable is payment is exceed Rs. 30000.
IF SERVICE CHARGES IS SEPARATELY MENTIONED ON INVOICE THEN TDS WOULD BE DEDUCTED ON SERVICE CHARGES NOT DEDUCTED ON MATERIAL COST.
But aggregate payment is Rs. 60,000 As payment of Rs. 10,000 only amounts to service which is not exceeding the limit of Rs. 30,000. So will I have to deduct TDS or not?
not need to dedeuct tds
Recent Topics :
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
Related Topics :
CAclubindia
