Dear all 1)when client PAy rent to LIC Tds on it should be Deducted OR not 2)When Computer purchased Tds on it Should be deducted or not IF deducted on What rate 3)What is the Effective Date of change in PT salb of MAharashtra 4)in any organisation Cash OR accural System both can be followed or not Please Reply Its Urgent THANKS
2 Replies
P. Raja
(Manager Finance & Accounts)
(198 Points)
Replied 29 January 2010
Only Cash or Merchantile system can be followed
Rent attracts TDS
Computer purchases do not attract TDS
Regards
P. Raja
CA. Rajesh P. Ahir
(In Service @ PSU)
(687 Points)
Replied 29 January 2010
Ans
1) TDS is deductible in this case U/s 194i @ 10% for all ( 20% from 01/04/2010)
2) TDS is NOT deductible in this case
3) can you help me to know what you mean by PT
4) Cash OR accural System both if used it is termed as Hibrid System of Accounting. Hibrid System of accounting is not recognosed.(Should not be used)
Recent Topics
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
Related Threads
CAclubindia
