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Tds on what amount

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 February 2014
we have received some technical services from a firm.
value of service received is 1000 without ST
ST @ 12.36% is 124
Total invoice is (1000+124)=1124

But the whole 1000 is charged as LD (liquidated damages).
1000 is deemed as income in books and no payment is required is to be made.
Kindly suggest the following:

1)Is any tds is required to be deducted as payment is not made but in our books we have treated 1124 as exp.if yes then on what amount.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 February 2014 you can deduct TDS on Rs.1000 and debit the party and recover

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