Tds on barter deal
Bharat Golani (15 Points)
27 November 2019
whether tds is applcable on barter deal if yes under which section tds to be deducted and by whom ?
6 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194803 Points)
Replied 28 November 2019
What are the goods or services exchanged? TDS rate will be as per the original rate applied to the services exchanged...
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194803 Points)
Replied 28 November 2019
As per sec 194C of IT act...
Bharat Golani
(15 Points)
Replied 28 November 2019
Thank you for your prompt reply ...who is liable to deduct tds....the deal is between news print media and catering service provider and automobile showroom to publish their advertisement...
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194803 Points)
Replied 28 November 2019
Both are service receivers.... applies to both....
Bharat Golani
(15 Points)
Replied 28 November 2019
What will be the journal entries to account such transaction...if deal amount is rs 50000 and one party is individual and other is corporate.
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