CONCESSIONAL RATE OF TAX
This query is : Resolved
19 April 2011
Hello Experts
Suppose a vendor has given a certificate for lower rate of tax valid upto March 2011. But the bill pertain to month of february 2011 and the same is accounted in April 2011. Now should we deduct normal rate of TDS or the lower rate of TDS?
Pls clarify. Awaiting.
Thanks very much.
Sumitha
Suppose a vendor has given a certificate for lower rate of tax valid upto March 2011. But the bill pertain to month of february 2011 and the same is accounted in April 2011. Now should we deduct normal rate of TDS or the lower rate of TDS?
Pls clarify. Awaiting.
Thanks very much.
Sumitha
19 April 2011
Preferably you should make a provision for the above bill on 31st March and deduct tax at a lower rate. If you cannot make provision for any reason then tax must be deducted at full rate in April.
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