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194c???????????

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Guest

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Guest (Querist)
03 October 2012 payment made to contractor in single transaction as follows : -
1) 25000=00
2) 25000=00
3) 24800=00
4) 500=00

now how can we deduct TDS OF Rs.753 (75300*1%TDS) from last payment of Rs.500?????
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CA Navin Jain

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CA Navin Jain (Expert)
03 October 2012 show debit balance of rs. 253 in party account and adjust with next bills or recover of rs. 253 from party.

if both thing not possible then rs. 253 book as expenses.
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
03 October 2012 entry need to pass:-

expenses account dt. 500
party account dt. 253
to tds payable - 753

pay tds:

tds payable 753
to bank 753
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