Tds applicability on bill value or payment value
This query is : Resolved
25 September 2012
A Contract bill received from a party Rs.60000/- for a contract work. Rs.50000/- payment made after a week. Remaining balance of Rs.10000/- discount allowed by contractor. Whether TDS applicable on Bill amt.Rs.60K or Net Amt.50K.?
25 September 2012
TDS will be liable on 60000/- and not on 50000/-
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25 September 2012
IF ALL THING HAPPEN IN SAME MONTH THEN DEDUCT TDS ON RS 50K
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26 September 2012
Agreed with the reply of Navinji
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