If bill gross amount is 1,00,000rs and gst is 18,000 and net bill amount 1,18,000rs then tds 10 percentage deduction applicable on 1,00,000 rs or 1,18,000??
14 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 28 October 2019
TDS is applicable on 1,00,000/- (one Lac )
please confirm with others also .
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 28 October 2019
TDS would be deduct on 1,00,000/-
Komal Raut
(2 Points)
Replied 28 October 2019
Tds would be deducted on Rs.100000/- and for ur kind information 1,18,000/- is a gross amt and 1,00,000 is a net amt so tds would be deducted on net amt i.e.100000
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 28 October 2019
Tds deductible on Basic/Assesable value only. Do not deductible in Tax (GST) value.
As per query TDS will be deductible on Rs 1,00,000/-...
As per query TDS will be deductible on Rs 1,00,000/-...
MOHIT JAIN
(ACCOUNTS)
(47 Points)
Replied 29 October 2019
TDS is applicable before the taxation , (Base amount) . as per your Queery 10% TDS on 100,000 = 10.000/-
1,18,000-10,000 =1,08,000/- is payable
sabyasachi mukherjee
(27574 Points)
Replied 30 October 2019
Deepak
you shall first know this
Gross bill is inclusive of taxes...
NOW HERE I SHOULD STATE THE FOLLOWING .
1. NATURE OF CONTRACT.
2. CATEGORY.
YOUR QUERY MUST BE UNAMBIGUOUS.
you shall first know this
Gross bill is inclusive of taxes...
NOW HERE I SHOULD STATE THE FOLLOWING .
1. NATURE OF CONTRACT.
2. CATEGORY.
YOUR QUERY MUST BE UNAMBIGUOUS.
deepak
(PCS)
(430 Points)
Replied 30 October 2019
OtheR sources income and capital gain income is neccesary to mention in tax audit report?
deepak
(PCS)
(430 Points)
Replied 30 October 2019
Our client is providing professional services and net bill amount is 100000 and gst amount is 18000 and gross bill amount is 118000 so query is other person can deduct tds 10 percentage on 100000( net bill amount) before the make payment to our client?
Kapadia Pravin
(17259 Points)
Replied 30 October 2019
TDS is deducted on bill amount (before GST) that is on 1 lakh. The query is clear cut and no ambiguity.
------
In reply by Sanyasachi
What for Nature of contract , category 😇😇
------
In reply by Sanyasachi
What for Nature of contract , category 😇😇
sabyasachi mukherjee
(27574 Points)
Replied 10 November 2019
The nature of contract is necessary becoz
whether its professional services or subcontractor you should get to know.
whether its professional services or subcontractor you should get to know.
Mukesh Katara
(Account manager)
(533 Points)
Replied 10 November 2019
Yes agree tds on only 1,00,000
Kapadia Pravin
(17259 Points)
Replied 14 November 2019
Sanyasachi, there is already mention in query- 10% and hence it's 194J by default
The query is not ambiguous .
The query is not ambiguous .
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