Hello,
We deduct tds towards lease payment made to party at 2% but now the party has issued us the certificate for lower deduction of TDS @ 0.03% which is valid from Oct 2016 to Mar 2017 and in the certificate even the amount is quoted wherein it is mentioned that if at all the payment is made above the given slab suppose amount is of Rs.4,00,000 then tds will be applicable @ 2%. So in such case will we have to calculate the amount payable to party from April 2016 or only on the amounts which are payable after October 2016 that is from Certificate validation.
Kindly guide as in the given case if the amount payable is calculated from April 2016 then it crosses the limit of certificate and if we calculate it from certificate date then it does not cross the limit.
CAclubindia
