Advance to a Party

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Assume ABC Company has decided to pay an advance of Rs.1 50 000 to a party (Apt Advertisement) for their service on advertising for this year. The Total taxable amount on Rs.1 50 000 will be 1% as Tax, 10% as surcharge and 2% as Additional surcharge. After deducting the TDS from your Total Amount Paid/Payable, the Net TDS to deduct would be Rs.1, 683.00.

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