Meaning of Paid and credited while furnishing income tax returns

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Daya (Querist)
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03 March 2022 What is meaning of Credit and Paid in furnishing income Tax returns.
Paid meaning Paid to Party + TDS amount
Credited meaning Total Invoice Value.

Eswar Reddy S

Eswar Reddy S (Expert)
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04 March 2022 For Tds purposes paid means basic amount before inclusion or exclusion of taxes . If payable amount is 100000/- & Tds deduction 10000/- You must show 100000/- as amount paid or credited . Amount credited means amount credited to bank account or amount credited to ledger account in the accounts