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Dilip Kumar Tiwari (Sr. Executive Accounts / Commercial)     28 September 2012

Tds on gross / net amt.

Dear All,

Pls guide "we should deduct TDS on Gross Bill Amt, i.e before Discount Or Net payable Amt, i.e After Discount.

 



 5 Replies

CA. Subhash Dangi

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.

1 Like
ACMA Obulirajan R

ACMA Obulirajan R (M.Com, ACMA)     28 September 2012

TDS should be deducted on the amount actually payable to the creditor..

CA PRAVEEN SINGH

CA PRAVEEN SINGH (MANAGER ACCOUNTS)     28 September 2012

Originally posted by : CA. Subhash Dangi

TDS is to be deducted on net amount i.e actual credit  to party account or amount payable.


agree

Gunjan Tulsyan

Gunjan Tulsyan (Article)     28 September 2012

Agreed with above people...!!!

MK Karn

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.


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