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Tds

This query is : Resolved 
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(Querist)
18 August 2013 Dear Experts

My advertisements expenses from an contractor is ,say,40000 and from same party i also received advertisement income say 20000.
In this case will i be liable to deduct TDS for 40000? or can i net off without deducting it?
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
18 August 2013 You have to deduct TDS on gross turnover and you cannot square up the account. Hence, on 40,000 you have to deduct TDS

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