I had processed a 1st ra bill(contract bills) on 01/08/2012 for rs. 50,00,000/- out this amount i deducted Rs1,00,000/- as tds(2%) and paid 49,00,000/-
Now I Received the 2nd Rs bill & processed for payment of Rs.30,00,000/- , while verification it is found that in 1St Ra bill we had paid Excess of Rs.10,00,000/- Now we Are Paying 20,00,000,/- against 2nd RA bill
On which amount (i.e 30,00,000 / 20,00,000) we have to make TDS while paying
Plz reply with circular/notification if availabe.
on 20 lakhs but obviosly ..and other thing is that u should deduct the amount of TDS only up to 2% of the Whole amount ( 1st bill + 2nd bill)
reason behind that is u have dedcuted excess TDS to the extent of 10 lakhs ...oaky ...!!!
Thank u
could u support your comment with notification/circular/act.
i had done like that only and put for approval but my boss not accepting they required the proof of act/cir/not.etc. sorry
Dear visitor,
Please go throuhg this circular, it is regarding the claim of refund of the TDS paid in excess that includes the amount of liabilty also ..please verify the same or a link also i m attaching here for u ...okay..First go through the link ..
/experts/circular-regarding-claim-of-refund-of-tds-deposit-excess--192908.asp#.UIjw5W9hdMA
CBDT issued circular No 285 [F No 275/77/79-ITB] dt 21/10/1980
Regards,
Ankit Maniyar
CA Suraj Garg & Associates
New Delhi
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RMA And Associates LLP
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S.B.G. & CO. CHARTERED ACCOUNTANTS
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