Hi Friend, Seniors & Experts
An Assessee (Company) provides a contract of Printing & Stationery to a Person (Individual) which is subjected to TDS U/S 194C @ 1%. The Person raise Invoice (only one bill for hole year) for Rs.32000 & the company get Cash Discount of3000 for early payment. Now TDS have to deduct on 30000 or 29000 or no TDS has to be deducted?
Thanks in Advance,
R Shriram.
Thanks sir.
R Shriram
Sir In above case There is Cash discount u told the treatment. If v pay late & that party charges interest then wat is the treatment
Thanks in Advance
R Shriram
TDS is applicable on "gross payment" which is inclusive of interest too.
| Originally posted by : U S Sharma | ||
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TDS is applicable on "gross payment" which is inclusive of interest too. |
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