Interested to Buy Any Domain ? << Click Here >> for more details...
A is raise a bill to B of amt. 25000/
At the time of payment B will be deduct the TDS from which
rate.This bill raised first time to B By A.
Trilok Sharma
(Vigneshwara Developers)
- 2 Answers
- 5426 Views
- I also Faced
- E-Mail Answers
Answer Posted / manoharnsr
For deduction of TDS 3 things are very important.
1. Nature of transaction
2. Nature of Service
3. Amount paid or payable.
There is no TDS on transactions involving purchase of goods
or assets.
The rate of TDS depends on the nature of service bought.
There is seperate cieling limit for each type of service.
for example in the case of professional services the limit
is Rs 20000 and for contractors it is Rs 50000.
In the present case assuming A is service provider, therate
of TDS depends on the nature of service and ofcourse if it
exceeds the cieling.
The frequency of transactions or the quantum of
transactions are irrelevant for the purpose of TDS.
Further TDS has to be made upon the earlier of payment or
credit and should be deposited with the authorities
subsequently with the time limits.
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
WHEN IN ADJUST. GIVEN THAT THERE IS VALUE OF RS...., OBSOLESCENCE STOCK INCLUDED IN CLOSING STOCK RS.......,WHAT IS THE PROPER WAY TO SHOW IN INCOME STATEMENT AND POSITION STATEMENT.
Paid office electricity charges Rs 15000/- and Ram partners residence electricity charges 1250 thr andhra bank cheque
what is corporate accounting?
what is monetary polasy and how it is different from trade polacy? how it will impact on stockmarkets in India?
What Is The Limitation Of Remuneration Allowed If Book Profit Is 375850 In A Business Firm And In A Professional Firm?
what is Tds %,Service tax %,Cess %,and ESI,PF %,and what is the use of this.
what happens to each of the three primary financial statements when gross margin decreases?
What is Mean By FRS for HQ reporting, How To Prepare?
EXPAND_________SEC
what is meant by transposition error
What is the Branch Accountant Responsbilities ?
Interest earned on investments is an__________
We are working as Merchant Exporter. My Question is can we Sale the products against 'H' Form to the Exporter after purchasing the material against 'C' Form? Or only Manufacturer can make sale against 'H' Form.
what are the certificates needed at the time of SBI clerical interview?
how many types of practice accounts?
