tax on cash sale Rs.20000

1527 views
User Avatar

accountant
77 Points Posted on 17 December 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

Reply Share Follow
On 17 December 2007 at 11:09 Report
Replies (4)
User Avatar

CWA STUDENT AND SERVICE
134 Points Posted on 17 December 2007
Hi, sales is not fall in TDS category. thanks
Reply
On 17 December 2007 at 11:37
User Avatar

C.A.
2402 Points Posted on 17 December 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.
Reply
On 17 December 2007 at 11:59
User Avatar

Service
30 Points Posted on 18 December 2007
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?
Reply
On 18 December 2007 at 08:12
User Avatar

The Possibilities are Infinite...
629 Points Posted on 05 September 2008
there is no tds on sale & purchase.
Reply
On 05 September 2008 at 09:57

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. TDS on payment to a non resident
  2. NSFA(National Food Security Act) commission
  3. RCM applicability on petty GTA freight (₹450
  4. Short payment reccieved in export & GST implic
  5. Parag Gupta vs Purushottam Aggarwal- who is best f
  6. GST applicability on own-vehicle goods transportat
  7. FAST DS Scheme 26
  8. 12A registration expired in FY 22-23 and is not re
  9. Seeking Clarification on Business Code Selection a
  10. CG on property sold after construction of a house

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details