TDS on Advance amount received
V Vinodkumar (Proprietor) (230 Points)
13 August 2018V Vinodkumar (Proprietor) (230 Points)
13 August 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 14 August 2018
If assessee is maintaining books as per mercantile than 2.3crore.
If cash system than actual cash received i.e 50lac
I think contract was for 1.8crore and company paid 50lac advance so it shall be reduced from 1.8crore and not added to it
Ask company to rectify it