Tds deduction
Querist : Anonymous
we are making payment to our suppliers after deducting Cash Discount. my suppliers are asking to deduct TDS on the same. there fore please suggest that,Is TDS applicable on Cash Discount ?
but we assume that you get CD on early payment. Then you need to see on which amount you booked the bill. if bill is booked by full amount then TDS will be on full amount. But if you booked bill by less amount then you will deduct TDS on less amount.
paid amount or booked amount whichever is more. on that TDS will be deducted
Querist : Anonymous
But my query is related to goods.
we are making payment to our suppliers after deducting Cash Discount against goods supplied by them. my suppliers are asking to deduct TDS on the same. there fore please suggest that,Is TDS applicable on Cash Discount ?
I told you this in first line
your supplier can charge TCS from you if it is applicable. But how can you deduct TDS on goods purchased.
Ask your seller in which sec he wants you to deduct TDS
Querist : Anonymous
yes, it is your income. but how can you deduct TDS on that.
Party is wrong.
Querist : Anonymous
he is selling goods so he can't charge TDS.
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