10 November 2009
We are participating in exhibition which is taken place in Feb'10.For this we have paid of Rs. 119000/- gaianst party bill dated 15.05.09 and deducted TDS accordingly. Now we want to more spce in exhibition and rebooked the new stall and cancelled the old one.Party has sent the bill for the new one of Rs. 178000/- and date & bill no is same as it was in previous bill which was cancelled.
we have asked the party to send a bill for differnce amount. My qeury is: - Am I correct? - Can we pay the amount against this bill?
10 November 2009
Stall rental is under 194I. Which section have you deducted under. 194C?
TDS is as and when you record the transaction or pay the bill whichever earlier. Therefore if his bill has been revised you credit his account only for difference even if the bill number is the same. Your voucher will be on account of difference in bill amount for second entry and you will deduct TDS when credit the account for difference or pay, whichever earlier. However, please check whatthey are billing you at. Rental for Land / Building or Part Thereof is 10% TDS u/s 194I and not 2% that you seemed to have paid. 80% of your bill will be disallowed till you make good the correct TDS.
CAclubindia
