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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?

Question Posted / raut a.m

Answers were Sorted based on User's Feedback



One bill of Rs.200000/- for Machinery hire issued by party, but total bill is reversed by me to p..

Answer / prakash

TDS Deducted on Machinery hire @ 10%

Is This Answer Correct ?    6 Yes 0 No

One bill of Rs.200000/- for Machinery hire issued by party, but total bill is reversed by me to p..

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

One bill of Rs.200000/- for Machinery hire issued by party, but total bill is reversed by me to p..

Answer / pramod shukla

tds deduct of 2% total bill value on dated oct 09

Is This Answer Correct ?    0 Yes 1 No

One bill of Rs.200000/- for Machinery hire issued by party, but total bill is reversed by me to p..

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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