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TDS related query

22 March 2021

how much tds Deducted by the company and proprietorship firm give me a some example according to the company and proprietorship and how to calculate.

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5 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 22 March 2021

TDS is deducted on Gross value of invoices

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Gagan Kaushik (96 Points)
Replied 22 March 2021

Please sir give me a some example

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 22 March 2021

Let us take an example of TDS assuming the nature of payment is professional fees on which the specified rate is 10 percent XYZ Ltd makes a payment of 50000 rupees towards professional fees to Mr. ABC, then XYZ Ltd shall deduct a tax of 5000 rupees and make a net payment of 45000 rupees.

50000 deducted by Rs 5000 to Mr. A