Web21 de jun. de 2024 · TDS can be deducted on expenses (GL Account) transactions. ... Advance payment needs to be applied with the invoice before posting. ... Value; TDS Base Amount: 100000: TDS percent for 194C: 1000 (50,000x2%) TDS percent for … Web26 de jul. de 2024 · The amount of TDS on property purchase in India is 1% or 0.75% to be deducted from the sale consideration (depending upon the Date of Payment/Credit to the Seller). The consideration is the amount of cost that is mentioned in the sale-purchase agreement or the sale deed.
What is Tax Deducted at Source (TDS)
Web16 de fev. de 2024 · On what value TDS needs to be deducted? (a) Contract value (b) Contract value excluding tax (c) Invoice value including tax (d) Invoice value excluding tax 1 Answers 0 Vote Up Vote Down TANI AGARWAL Staff answered 4 years ago (d) … Web16 de mar. de 2024 · When is TDS to be deposited. It is to be Deposited by 7 th of next month of deduction. Example. TDS Deducted in January, to be deposited by 7 February. TDS Deducted in February, to be deposited by 7 March and so on. However for March, it is to be deposited by 30 April and not 7th April. incompatibility\u0027s nk
On what amount tds is deducted?
Web16 de jun. de 2024 · When the total value of taxable goods or services or both, under a contract, exceeds Rs 2,50,000 GST TDS needs to be deducted. Example – M/s Tigers Ltd entered into 2 contracts for supply of goods to PSU valued Rs 2,30,000 and Rs 2,40,000. No tax will be deducted as each taxable supply under a contract is not exceeding Rs 2,50,000. Web5 de fev. de 2024 · In the Union Budget for 2024-23, the finance minister proposed that when buying a property, the homebuyer should deduct tax deducted at source (TDS) at the rate of 1 per cent on a non-agriculture immovable property of over Rs 50 lakh on the basis of the sale price or the stamp duty value, whichever is higher, after an amendment in the … Web19 de mai. de 2024 · WHO IS REQUIRED TO DEDUCT TDS? Buyer is required to deduct TDS at the rate 1% if sale consideration is 50 lakhs or above but from 01/04/ 2024, TDS is required to be deducted if stamp duty value of property is also 50 lakhs or more. This means TDS is required to be deducted if stamp duty value of property or sale … incompatibility\u0027s nr