i am working in pvt company as accountant. but i have one
doubt in case of tds deduction. becouse we have paid
Rs.25000/- to Just Dail Group account as a Advertisement
Expences. I know Rules of Tds deduction Rule no: 194C any
payment to contract (advertisement contract) must want to
deduct tds (1.133%)if u paid advertisement expences more
than Rs.20000/- (one time). but my doubt is this. how much
our assessment value in this creditor. up to 20000 don't
want to pay tds. r we only assessed value Rs.5000 (25000-
20000), ie Rs.56.65 or whole amount (25000)ie Rs.283.25.
anybody can help me
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Answer Posted / pradeep
Freinds you should deduct TDS on total amount of Bill means
on Rs. 25000. @ of only 1%(250)
and should pass entry.
Add Exp. A/c Dr. 25000
To TDS Payable A/c 250
To Contractor A/c 19750
| Is This Answer Correct ? | 3 Yes | 2 No |
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