tds
This query is : Resolved
30 July 2010
if payment is received from a client with TDS deduct. and we have received that payment on behalf of other client. so while paying back that amount again we have to deduct TDS. to whom we have to pay that amount,and we charge commission to client to whom we have to pay back that amount.
30 July 2010
Please clarify the connection between you three. Also give details of method adopted for raising bill at each other.
02 August 2010
There are two points in this query on which you want to know whether TDS is applicable or not?
1- Amount received on behalf of client and then repaid to that client.
2- Commission charged from the client.
First, you should know that TDS is deducted on expenses. In point 1 there is no expense as you are just transferring the amount received on behalf. Where as in point 2 you are receiving commission. In point 2 TDS can be applicable but it will be deducted by the party which is making payment and not by you.
1- Amount received on behalf of client and then repaid to that client.
2- Commission charged from the client.
First, you should know that TDS is deducted on expenses. In point 1 there is no expense as you are just transferring the amount received on behalf. Where as in point 2 you are receiving commission. In point 2 TDS can be applicable but it will be deducted by the party which is making payment and not by you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- Not a CA , can we prepare balance sheet
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Is income taxable or receivable or received in case of LLP and company
- Is receivable or recoverable same thing
- Bifurcation of prepaid expenses
- TDS - Form 26QB - Installment - Final payment Query
- ITR 6 Schedule CFL and UD Issues
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
