Tds deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2013 A company is deducted tds on jobwork of his any client in a f.Year because his jobwork amount is 150000/-. If next year the amount of jobwork is 10000-15000, then it is necessary to deduct TDS.

Manish Bhandari

Manish Bhandari (Expert)
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18 December 2013 No the thresehold limit is applicable year to year basis so not required.

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SAGARRAJE

SAGARRAJE (Expert)
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18 December 2013 Manish is right..The tds provisions is applicable on the basis of amount of transaction of that year and not previous year.

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CA Tousif Ahmed

CA Tousif Ahmed (Expert)
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19 December 2013 If jobwork is 10000 - 15000 in a year then TDS is not required to be deducted under sec.194c as this amount is below threshold limit.