I have received a service worth 50000rs from the job worker.
Need to pay him 50000+ tax
Need to deduct 1 % tds on 50000
This is ok
But im not paying as cash,
I will pay as goods , will sell goods worth 50000 to him.
This is right?
So here tds not requried?
TDS liability arises at the time of booking or payment whichever is earlier...
So if you book the invoice in your books then, TDS needs to be deducted at that time..
thank you very much for the reply, what is booking?
Booking means when you book the bill in your books of accounts.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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