21 April 2016
one of the aggregator of our organisation collects payment on our behalf and deposit with us the same after deducting his commission. Like if Rs 100 is collected then he remits to us Rs 90 i.e. after deducting his commission of Rs 10. Now the problem is that no TDS was deducted on our end since invoice was never raised .
I want to know should be TDS deducted?if yes, then how since invoice is never raised.
Secondly, what will be consequences of non- deduction of TDS and thirdly is there any way out?
21 April 2016
TDS applicable u/s 194H at 5% from 01/04/2016 earlier it was 10%. Aggregator raises invoice on your behalf so collect the TDS amount from aggregator and deposit TDS. 30% of your commission expenses will be dis allowed during tax working in case of non deduction of TDS.
21 April 2016
TDS to be deducted 10% upto 31st may 2016 from 01.06.2016 tds applicable 5% threshold limit increased from Rs.5000/- to Rs.15000 wef 01.06.2016
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