Pls guide "we should deduct TDS on Gross Bill Amt, i.e before Discount Or Net payable Amt, i.e After Discount.
CA. Subhash Dangi (Chartered Accountant) 28 September 2012
TDS is to be deducted on net amount i.e actual credit to party account or amount payable.
ACMA Obulirajan R (M.Com, ACMA) 28 September 2012
TDS should be deducted on the amount actually payable to the creditor..
MK Karn (Clerk) 30 September 2012
In the case of TDS on Salary
Gross amount should be decreased with allowable limit of deductions ex- Savings u/s 80C upto Rs.8333 per month.