I have to paid TDS excess amount. is it possible for adjustment. how to adjust this.
example: A company is paid advance to B Rs.2,50,000/-, deduction of TDS is 1,875/-. but B is submitted the bill amount of Rs.2,50,000/-. in this bill taxable value is 2,11,865/-, Gst amount is 38,135/-. but tds deductible on 2,11,865/- TDS amount is 1,589/-. how to adjust remaining balance.
Menu
TDS excess paid.
Replies (5)
Quick Summary
What is actual tax deducted you claim as tax or refund. if any discripency in filing TDS deducter will correct this.
In my opinion TDS is deductible on full bill amount and not on taxable value. Secondly if you have deducted extra tds and paid to govt that can be adjusted against any other entry.
Thank you for your help sir. Taxable value means before Gst value, remaining is GST tax. I think tds is not applicable on gst tax amount. is it correct or not. please suggest me.
In my opinion TDS is deducted on whole amount paid by the co. i.e 250000 in your case.
Thank you Sir.
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
