TDS on Advertisment

RAHUL JAIN

Accountant

32 Points Posted on 11 March 2021

Book TDS and pay it.. and extra amount show as advance to vendor.

Ashwini Kalbhor

Tax Practitioner

105 Points Posted on 11 March 2021

There is only one bill. no further transaction in whole year.

RAHUL JAIN

Accountant

32 Points Posted on 11 March 2021

If you are in audit so shall be booked. otherwise no need to book if no other transaction in whole year.

Ashwini Kalbhor

Tax Practitioner

105 Points Posted on 11 March 2021

Yes. audit is applicable.

RAHUL JAIN

Accountant

32 Points Posted on 11 March 2021

Please book TDS and do accordingly

Kapadia Pravin

17264 Points Posted on 11 March 2021

TDS is to be deducted if A single payment or credit exceeds Rs. 30,000.

RAHUL JAIN

Accountant

32 Points Posted on 11 March 2021

Right Sir

You need to deduct tax at source u/s 194C and pay the same to the Govt along with interest (if applicable). You may negotiate with the vendor to, either return the same or issue credit note, once you provide them form 16A. Such errors do happen and most of the times vendors are supportive.

Unmesh

student

108 Points Posted on 11 March 2021

You may deduct and pay the tax now. later you make chase for the refund of the excess paid certainly that will be the TDS deposited amount with that ad agency or you may adjust it with future payable.