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When calculating tds on bill ,TDS need to be calclated
on "Base Amount" or "Base Amount"+ "Vat Amount" ? please
answer with relevant provision
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Answer Posted / deepak bendwal
vat is calculate on purchase value
if you have purchase steel of rs. 10000/-
vat rate @ 4% 400/-
total bill amount is ____
10400/-
entry of above material in purchase ledger
xltd.a/c dr. 10400/-
to purchase a/c 10000/-
to input tax 4% 400/-
------- --------
10400/- 10400/-
(being steel purchase @ 4%)
| Is This Answer Correct ? | 2 Yes | 1 No |
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