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TDS on govt. contracts
Please explain all aspects of TDS deducted on govt. contracts i.e. when and how we can take credit of such deducted tax?
Replies (5)
TDS is Tax Deducted at Source...........
TDS is deducted either under GST act or Income Tax act.........
By flling corresponding returns as per the act.......... the assessee can claim the TDS deducted against payment of tax liability, if any........ or ask for refund........
E.g. TDS deducted u/s. 194 C of income tax can be claimed by filling income tax annual return of that AY.
whether there is any deferment of TDS provisions?
Yes, for TDS/TCS under GST act
it means no one is required to deduct and deposit TDS
Thats only for GST act; but TDS u/s. 194C of IT act deductible...........
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