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TDS- Deduct or Not

S.Kondaiah (Asst Manager Finance & Accounts ) (39 Points)

05 July 2018

Dear Sir We will pass RCM Entry can we deduct TDS On Basic value.
Please give me suggestion.If We deducted is it wrong or right.

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13 Replies

Ravi SADhiyan (Practice) (4510 Points)
Replied 05 July 2018

Originally posted by : S.Kondaiah
	Dear Sir We will pass RCM Entry can we deduct TDS On Basic value. Please give me suggestion.If We deducted is it wrong or right.

Yes You deduct TDS on Basic Value.

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Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 05 July 2018

TDS on basic value is right. Generally TDS need not be deducted on the tax portion.

CA Naveen Chand (Chartered Accountant) (12739 Points)
Replied 05 July 2018

TDS MUST BE DEDUCTED IF APPLICABLE

S.Kondaiah (Asst Manager Finance & Accounts ) (39 Points)
Replied 05 July 2018

Sir My Question is Can we deduct TDS for RCM

CA Naveen Chand (Chartered Accountant) (12739 Points)
Replied 05 July 2018

YES U CAN

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Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 05 July 2018

Tax does not form part of income. TDS need not be deducted on tax portion whether it is Tax invoice or purchase from unregistered dealer where tax is paid under RCM.

Deepak (student) (36 Points)
Replied 05 July 2018

Yes u can but , Tds provsion are not applicable till now.. it has been suspended by the GST Council till 30/9/18

S.Kondaiah (Asst Manager Finance & Accounts ) (39 Points)
Replied 05 July 2018

Sir please share any notification for this RCM

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 05 July 2018

What is the exact service received by You?
Which service you pay RCM?

S.Kondaiah (Asst Manager Finance & Accounts ) (39 Points)
Replied 06 July 2018

Sir it's a RCM Invoice, Service for Transportation.If you take just Example Transfortation Charges Rs. 20,000/- GST is Rate of Tax 5 percent is Rs.1000.My Question is can we deduct TDS on Rs.20000. Is it applicable or not.

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Ravi SADhiyan (Practice) (4510 Points)
Replied 06 July 2018

Originally posted by : S.Kondaiah
	Sir it's a RCM Invoice, Service for Transportation.If you take just Example Transfortation Charges Rs. 20,000/- GST is Rate of Tax 5 percent is Rs.1000.My Question is can we deduct TDS on Rs.20000. Is it applicable or not.

If Transporter give declaration under 44AE than No TDS

if No Declaration and no further transaction than No TDS