TDS 194Q and TCS u/s 206C1 (H) calculations,

TDS 182 views 2 replies

For TDS u/s 194Q and TCS u/s 206C1 (H) calculations, the invoice value in which 50 lakhs threshold crossed, the whole invoice amount has to be considered for tax calculation or one has to deduct 50 lakhs on accumulative invoices, and has to consider remaining amount for tax calculation. E.G. The invoice amounting Rs. 150000 on 30.11.2022 crosses the threshold of Rs. 50 lakhs,as the earlier cumulative invoices amounts to 49 lakhs, so the tax should be deducted on Rs. whole invoice amount 150000 or (49 lakhs + 1 lakh = 50 lakhs, so only remaining 50 thousand) i.e. 150000 * 0.1 % or 50000 * 0.1%

Replies (2)
Tds deducted on excess of 50L... only excess amt....50000*.1%

Yes Agree with Mr. Prashant  Daga .... ......


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