Is TDS on Contract is applicable on the subscription
charges payable towards computer software?
Answers were Sorted based on User's Feedback
Answer / rajesh
No, we need not deduct TDS for Computer Software
Subscription.
| Is This Answer Correct ? | 28 Yes | 10 No |
Answer / padmaja
Please support your answer through Section details or Case Laws...
| Is This Answer Correct ? | 9 Yes | 4 No |
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During the year a firm has received TDS of Rs.30 lakhs and out of this an amount of Rs.9 lakhs was adjusted against the taxes. However, in the balance sheet under the head assets,the firm shown Rs.30 lakhs towards TDS. Is it correct. In my openion, in the balance sheet, the assessee has to show only Rs.21 lakhs as asset in the balance sheet, after reducing the tax adjustemnt of Rs.9 lakhs. Pl. Clarify.
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