29 May 2010
Dear Sir, We have been paying packing charges to a person. throughout the year the total amount was 52000/- (paid on various dates) & now we have received bill of march from the packer amounting to Rs. 6200/- thus exceeding limits of Rs. 50,000/-
Now the problem is, there were two rates in last year for individual contracts.
2 % & 1 %
How i have to show the same, whether to show one common amount on 31st march tretaing the same as provision or show various payment dates and file revised return for every quarter.
This has happened first time and i would like to have help from experts at the earliest.
29 May 2010
IN MY VIEW DEDUCT TDS ON TOTAL AMOUNT ON THE DATE OF BILL DUE TO WHICH THE THRESHOLD LIMIT IS CROSSED. IF THE DATE OF THAT BILL IS ON OR AFTER 01.10.2009 DEDUCT TDS @1% ON TOTAL AMOUNT.
CAclubindia
