How do i know wheather Tds deducated from Inv.or Not?(eg.If
someone printing a banner for our office for Advertisement
& he issue a Tax Invoice for the same. If Tds is deducted -
then why & if tds is not deducted then why
Answers were Sorted based on User's Feedback
Answer / obulirajan r
If Tax invoice shows both Service tax of printing the
banned and VAT on material use to print the banner, then we
have to deduct TDS on Tax invoice. But if the vendor
produce seperate bill one for service charges and one for
material charges, then we have to deduct TDS on service
charges bill not on material charges bill
Please somebody comment on this?
Is This Answer Correct ? | 28 Yes | 2 No |
Answer / fca naidu 9848146369
:To know whether TDS is made from Invoice or not, you have
to go to TDS payable ledger (under current Liabilties), It
will show you the amount of TDS made. Now you can see the
ledger when you have deducted it will show credit balance,
and the same shall be paid to the INCOME TAX DEPT within
the due dates. As and when the payment is made TDS say
TDS on Advt balance will be reduced to the extent of
payment. TDS shall be deducted from all the parties in
case the total amount paid or payable to them during that
previous year exceeds Rs.20000. In case the invoices do
not exceed this limit then no TDS required. // Most
important thing if you are an individual and not covered
u/s 44AB you need not deduct tax at source.
Is This Answer Correct ? | 4 Yes | 6 No |
Answer / anil kumar
Yes, TDS will be deducted on that invoice two time
one time as per income tax rule on adv. contract (194 C)
one time as per vat rule- contract if vat charges in
invoice.
Is This Answer Correct ? | 6 Yes | 19 No |
How to raise capital (equity) in non-listed company?
What is internal and statutory Audit and what are the roles of auditor.
What are dormant deposits and which is the difference with dormant accounts? Thanks
What is an internal audit and what is the role of internal audit?
What do you find is the most challenging part of your job ?
Expand---------ESRD
Explain the importance of evaluating an internal audit department?
how will u check the account receivables and cash balances while doing audit
3 Answers Price Waterhouse Coopers,
what are all the things done by an accountant in small company. for example-if he is maintaining accounts receivable.
What all things are to be done in the internal audit of a company.And is internal audit cumpulsory for all companies??
while calculating drawing power for the purpose of cc limit ,while deducting creditors from stock whether to consider debit balance of creditors ,in total of creditors' credit balance ?
can external audit be seen as merely an overhead cost adding no value to the orgnisation