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TDS

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(Querist)
02 July 2010 WHAT IS USE OF TDS LIMIT I.E RS-50000/- & RS-200000/-

IT CAN NOT BE DEDUCTED FROM TOTAL BILL AMT

EX- SUPPOSE A BILL AMT IN YEAR-350000/-
LIMIT-RS 50000/-
=350000-50000=300000 @2%=6000 TDS DED AMT

OR

3500000 @2%=7000 TDS DED AMT
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
02 July 2010 tds will be on net amount i.e. =350000-50000=300000 @2%=6000 TDS DED AMT

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