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tax on cash sale Rs.20000

TDS / TCS 1456 views 4 replies

if a co. made  a sale for Rs. 22000/-and has been asked to get the tax deducted on payment but we dont want to get the tax deducted therefore we assume that on the time of payment the cash falls short by Rs. 4000/-we received 18000/- on spot and balance on delivery next day.even then the tax will be deducted if yes under which section.

Thanks & Regards

Abid

Accountant

Replies (4)
Hi, sales is not fall in TDS category. thanks
There may be some confuion at your end. Perhaps you are talking about section 194C. There is no provision of deducting Taxes. What I could understand from your question (agreeing with Mr. Deepak), as a purchaser of goods, you are not lible to deduct any Taxes at source under Income Tax Act.
I think confusion is about cash payment in excess of of 20,000/- u/s 40A(3) & not u/s 194 C. Abid what do you think?
there is no tds on sale & purchase.


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