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Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited. |
TDS & GST
TDS is to be deducted at the rate of 2 % (percent) on payments made to the supplier of taxable goods and/or services, where the total value of such supply, under an individual contract, exceeds two lakh fifty thousand rupees (2,50,000). No deduction of Tax is required when the location of supplier and place of supply is different from the State of the registration of the recipient.
This article is a collation of all the TDS related material of Finance module in Ginesys HO.
How To: Create & Edit TDS Source Definition in Ginesys Web
How To: Create & Edit TDS Section Definition in Ginesys Web
How To: Manage Managing TDS Agency in Ginesys Web
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