20 July 2023
We deducted 1% tds on the advance payment 1.25 lakh of a operator who booked business trade and fair held outside india . Now for preparing the final bill he has given the calculation showing deduction of 5 % TCS, and the total bill amt shown by him is 1.38 lac + gst 5% 0.69+ TCS 5% 0.72= Total 1.53,
Is is ok if both TDS and TCS is deducted on the same transaction .
CAclubindia
