See the TDS a customer will deduct
Published by Cruzeviz on . Updated .
Each invoice can now show the TDS a customer is likely to deduct, and the amount you will actually receive.
The figure is worked out from your PAN, the customer's PAN, and the kind of work on the invoice. That includes professional fees, contract work, commission and rent. It is an estimate of the deduction on that bill, so you can see the cash you should expect before the payment arrives.
Where you set the kind of work
Set your usual work in Business profile. You can change it for one customer, or for a single invoice, when that bill is a different kind of work. The invoice then uses the choice you made for that bill.
When you record the payment
Record payment fills the TDS in for you from that estimate. You can still change the figures if the customer deducted a different amount. The invoice can then close for the right total: the cash you received plus the tax deducted at source.
This describes how Cruzeviz shows the estimate. It is not tax advice, and it does not file a return. Your accountant is the right person for your own TDS and for the customer's deduction.
Questions
Where does the TDS estimate come from?
From your PAN, the customer PAN and the kind of work: professional fees, contract work, commission or rent.
Can one invoice use a different kind of work?
Yes. Set the usual work on the business, then change it for a customer or for that invoice.
Does Record payment fill the TDS?
Yes. Record payment fills the estimate in. You can change it if the customer deducted a different amount.
This page describes a Cruzeviz feature. It is general information, not tax or legal advice. No customer record is included.
Related: Cruzeviz Billing · All invoicing guides