TDS DEDUCTION UNDER SECTION 194M-REG
MEENA VIVEK (250 Points)
21 March 2022MEENA VIVEK (250 Points)
21 March 2022
CA Puja Sharma
(Chartered Accountant)
(4972 Points)
Replied 21 March 2022
If the provisions of section 194M are applicable then TDS to be deducted on the entire consideration Rs. 70 Lakhs and not the amount exceeding Rs. 50 Lakhs.
TDS = 70 Lakh x 5/100 = 3.5 Lakhs.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)