Tds deduction on different bill

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 Dear Experts,
We have received service invoice on following date & amount.
(1) on 30/10/2015 & 25000
(2) on 26/12/2015 & 25000
(3) on 27/3/2016 & 28000

Payment of both first bill was made on 30/12/2015 but we have not deducted TDS on both said bill because the threshold limit was not crossed however on receipt of third bill the threshold limit has been crossed therefore we have made 2% TDS on full 78000/- u/s 194C...query.. 1) how much credited amount is to be disclose in TDS return however i have made TDS on 27/3/2016 inclusive all three bills ....2) which date will be disclose in TDS return,

Regard
Vinay Thakur

CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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09 April 2016 Credited amount will be amount on which tax has been deducted.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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09 April 2016 1. Write 28000/- on which you have did deduction
2. There are two dates A deduction date B deposit date you have to write both dates in TDS return.

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Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 How can be shown different date in TDS return instead of 78000

CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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09 April 2016 If you write deduction date of Oct and Dec, it will levy interest on late deposit of TDS.

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 Sir... in oct. And dec. Threshold limit was not crossed therefore No TDS...

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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09 April 2016 If you deduct tds on 27.03.2016 while do payment then payment credited and deduction will be 27/03 and after deduction you have to deposit tds amount to bank so deposit date will be different.

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 I have deducted TDS on 27/3/2016 considering the earlier bills also... therefore due date is 30 april in this case how tds deposite date can be different...

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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09 April 2016 you have to write in your tds return 27/3 as paid or credited and if you deduct on same day then it will be same as 27/3 but if you deduct on other date then it will be different.

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 The third bill was received on 27/3/2016 Rs. 28000 but i have deducted TDS on full 78000 considering the two earlier bills also... my query was as i have deduct TDS on 27/3/2016 in this case which credited/paid amount wl be disclose in TDS return weather full 78000 on which TDS has been made or all three different amount i.e..25000, 25000, 28000 total 78000, will one combined amount of 78000 will be shown or three different amount..

CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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09 April 2016 As You can't give incorrect particulars in TDS return, so give correct details by showing invoice on invoice date with tds amount as zero or amount deducted. So you have to show 28000/- on 27/3/16 with tds amount of Rs. 7800/-.

Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 Sir if show 28000 on 27/3/2016 with TDS amount 7800 then only 28000 or all three different amount will reflect in 26AS

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CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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09 April 2016 All amount of invoice will be reflect in 26AS with TDS amount as Zero.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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09 April 2016 When you file Q4 tds return you have to add challan which is Rs. 1560/- (78000X2%) and inn Annex-I you have write Q4 details which is 28000/- and deduction of Rs. 1560/- why because you have deducted on Rs. 28000/- not on 78000/-. as per rules you have to deduct on 78000/- but on which amount you have deducted in Q4 is Rs. 28000/-. You need to file with proper TDS amount which will shown in 26AS while paid or credited amount, that contractor will write manually Rs. 78000/- in his/her return.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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09 April 2016 Other thing you should have to learn from above query is...if your 194C payment will goes over threshold limit in a year then you have to deduct tds from first payment.

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Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2016 as sunil sir has pointed out above all three invoice amount will be disclose in TDS return but i want to know i have deducted 1560/- TDS in Q4 on 27/3/2016 but two invoice pertaining to Q3 then how these
two invoice details can be shown in Q4... please clarify.....