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One bill of Rs.200000/- for Machinery hire issued by
party, but total bill is reversed by me to party. In this
matter what is the TDS Deduction entry I can made or not?
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Answer / siman
Liab. to deduct TDS arise at the point of credit of payment
whichever is earlier.
Here as you hv reversed the invoice there is neither a
credit nor a payment. Hence no need to deduct TDS.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / pramod shukla
tds deduct of 2% total bill value on dated oct 09
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / b.l. choudhary
machinary hire 2% of 1st oct.09 is chargeable
| Is This Answer Correct ? | 1 Yes | 3 No |
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Audit 
