TDS can deduct 50%
This query is : Resolved
11 May 2020
Hi All,
If we received Service Invoice for Rs.10000+18%GST=11800/-
but we paid only 50% of amount to Vendor Rs.5900/- then we can deduct TDS 50% can pay to Department or we have to deduct 100% TDS and pay.
Thanking You
Amruth Kumar
If we received Service Invoice for Rs.10000+18%GST=11800/-
but we paid only 50% of amount to Vendor Rs.5900/- then we can deduct TDS 50% can pay to Department or we have to deduct 100% TDS and pay.
Thanking You
Amruth Kumar
11 May 2020
Yes, you can deduct 50% TDS which is only payable.
If you create 100% liability and pay only 50%, TDS has to be deducted 100%.
If you create 100% liability and pay only 50%, TDS has to be deducted 100%.
11 May 2020
TDS has to be deducted 100%.
As booking of bill or payment which ever is earlier.
As booking of bill or payment which ever is earlier.
11 May 2020
In the above case you are booking 100% of the expenditure and creating your liability.
TDS is to be deducted @100% on the entire liability
TDS is to be deducted @100% on the entire liability
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