07 September 2016
Greetings of the day to all experts!!!
One Company made brokerage to X & Y Rs. 100000 respectively on 23.08.2016. X was paid Rs. 90000 and Rs. 10000/- deducted as TDS. But Y was paid Rs. 100000 and TDS deducted Rs. 10000/- on 24.08.2016.
My query is - whether provisions of TDS have been complied with in both the above cases. In my opinion TDS in case of Y should be 100000/90*100=111111*10%=11,111.00
07 September 2016
Dear Your opinion is correct. In case of X tds is correct but in case of Y you need to do grossing up. your calculation is correct.i,e Rs 1111/- is short deducted TDS
CAclubindia
