How TDS Is Calculated
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Answer / priyul
TDS will be deducted as par rates specified in Finance Act &
there is also some limits. If payer pays amount beyond
limit specified than payer has to deduct TDS. It is
calculated on amount paid. If recipient does not have PAN,
than 20% of amount paid.
Is This Answer Correct ? | 12 Yes | 1 No |
tds will be deducted as per rates income tax and the payment
made by the payer to deduct the tax and thereafter to pay
the amount to the payee if does not pan number will be same
rate except other case
Is This Answer Correct ? | 0 Yes | 2 No |
The party has raised service bill for Rs. 120000. The TDS deductor company made TDS on Rs. 100000 i.e., Rs.20000 is deducted on the gross bill of Rs 120000. My question is whether to deduct TDS on Rs.120000 or on Rs. 100000?
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