TDS 194Q and TCS u/s 206C1 (H) calculations,

503 views 2 replies

For TDS u/s 194Q and TCS u/s 206C1 (H) calculations, the invoice value in which 50 lakhs threshold crossed, the whole invoice amount has to be considered for tax calculation or one has to deduct 50 lakhs on accumulative invoices, and has to consider remaining amount for tax calculation. E.G. The invoice amounting Rs. 150000 on 30.11.2022 crosses the threshold of Rs. 50 lakhs,as the earlier cumulative invoices amounts to 49 lakhs, so the tax should be deducted on Rs. whole invoice amount 150000 or (49 lakhs + 1 lakh = 50 lakhs, so only remaining 50 thousand) i.e. 150000 * 0.1 % or 50000 * 0.1%

Replies (2)
Tds deducted on excess of 50L... only excess amt....50000*.1%

Yes Agree with Mr. Prashant  Daga .... ......

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details