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tax on cash sale Rs.20000

TDS 1280 views 4 replies

abid

accountant

169 Points Joined August 2007

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)

deepak

CWA STUDENT AND SERVICE

200 Points Joined September 2007

Hi, sales is not fall in TDS category. thanks

CA. O.P. Agarwalla

C.A.

2916 Points Joined November 2007

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.