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.
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TDS excess paid.
Replies (5)
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.
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