Assignment:
Task to Complete:Compute TDS deductible by the Company for each case separately in each quarter of current tax yearPay TDS using simulation software
CompanyInformation:
- Company Name: Finc Finance Private Limited
- TAN Number: CHEF72352F
- Address: 103, Nungambakkam High Rd, Ponnangipuram, Subba Road Avenue, Nungambakkam, Chennai, Tamil Nadu 600034
TDS Login Details (Income Tax Website):
- Username: CHEF72352F
- Password: Fin@123
Click here to Access Simulation Software to make TDS Payment🔗
Transactions:
- On 10th April, Finc paid interest of ₹1,25,000 to M/s. Vikas Finance Co. for a 3-month unsecured loan taken at 15% p.a.
- On 15th April, the company paid ₹26,000 as professional fees to CA Sakshi Mehra.
- On 18th April, Finc entered into an advertising contract with AdMax Media Pvt Ltd for ₹65,000.
- On 25th April, rent of ₹58,000 for office space was paid to Mr. Shankar R.
- On 1st May, Finc paid ₹49,000 as machinery rent to M/s. Rama Equipments Pvt Ltd.
- On 5th May, Finc paid ₹33,000 as commission to Mr. Dinesh M, a freelance referral agent.
- On 28th May, a technical services invoice of ₹82,600 (including GST @18%) was paid to Mr. Varun M.
- On 10th June, Finc paid ₹62,000 as monthly consultancy fee to BizGuru Advisors (Partnership Firm).
- On 15th June, ₹90,000 was paid to a contractor, M/s. Sai Infra Works (Proprietorship), for civil works at the warehouse.
- On 30th June, the company purchased goods worth ₹60,00,000 from M/s. Alpha Distributors; turnover of Finc in preceding year was ₹12 crore.