TDS U/S 194Q - Regarding clarification
GANGI NAIDU YANAMANDALA (130 Points)
09 August 2021my doubt is whether we have to deduct tds including VAT on purchase of diesel and PETROL or excluding VAT amount.
Thank you
GANGI NAIDU YANAMANDALA (130 Points)
09 August 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 10 August 2021
If such payments are made in advance then tax to be deducted at source on \value of the payment made. If tax is deducted against invoice, then on the value excluding tax like GST/VAT etc.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)