kumara swamy (accontant) 30 September 2020
Dear sir, I have query to TDS. I paid advance to contractor in FY 2019-20,TDS amount less 1%. vendor has given bill on August 2020. which TDS rate is applicable to vendor??
either 1% or 0.75%?
Please help me sir.
CA ABHAY GUPTA (Practice) 30 September 2020
In case TDS deducted already in FY 2019-20 then no need to deduct tax now, in case there is difference in bill amount and advance amount then in that case tax need to be deducted at .75% on difference amount only.