I have one doubt regarding deduction of TDS . one of my Vendor Submitted Lower deduction certificate for deduction of TDS upto Rs 5.5 Lakhs TDS Rate will be 0.20% here vendor is raised one invoice Basic 1.8 Lakhs+gst 32.4K=212.4K. and another invoice is raised for Rs 4 Lakhs+gst 72K=472K.
while calculating tds amount on how much amount Lower rate will be applied (i.e 0.20%) and on how much amount Normal rates will be applied (0.75% or 1.5% as per sec 194C)
Please Reply me as early as possible Thanks in advance, Regards, Bheema Reddy.
CAclubindia
