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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Answer / h.r. sreepada bhagi
If the company wants to pay only Rs. 1 Lac., then TDS is
applicable on that amount & if the whole amount is payable,
then it's applicable on Rs. 1.20 Lacs. In other words TDS is
applicable on the total amount payable towards the services
/ contract.
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / vishwas
TDS means Tax Deducted at source .It should be deducted on
Amount payable & not on amount paid. Here the bill amount is
Rs. 1.20Lacs i.e. payable. Hence TDS shold be deducted on
Rs.1.20 Lacs only.
| Is This Answer Correct ? | 4 Yes | 3 No |
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Audit 
