TDS ON PURCHASE DEBIT NOTE?

Samad ali (8 Points)

24 July 2021

is tds deduct on supplier's debit note?

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6 Replies

prasad Nilugal (3914 Points)
Replied 24 July 2021

TDS deducted on certain payment and receipts , as per section 192 to section 206 Income tax 1961 .

CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 July 2021

What for the debit note is raised?

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Samad ali (8 Points)
Replied 24 July 2021

Supplier forgot to add one item in invoice for that raised rate different debit note.?

CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 July 2021

If so, you need to deduct tax at source u/s 194q even on this.

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prasad Nilugal (3914 Points)
Replied 24 July 2021

Check out conditions for deduction TDS under 194 Q of IT act .

CA Rashmi Gandhi (Chartered Accountant) (86318 Points)
Replied 25 July 2021

TDS is required on payment and while you pay the amount of debit note , same is required to be deduct.

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