Tds deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2015 SIR,

WHAT WILL BE TDS APPLICABILITY IF A VENDOR IS RAISING INVOICE AMOUNTING RS.16000/- WHICH FALLS U/S 194C & SAME VENDOR RAISING INVOICE AMOUNTING RS.21000/- WHICH FALLS U/S 194J. PLEASE SUGGEST TDS WILL BE DEDUCTED OR NOT.

REGARDS,
VIKAS

CA Deven

CA Deven (Expert)
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27 January 2015 Hi Vikas,

Limit u/s 194C is 30,000 per contract & Rs. 75000/- p.a since your payment is Rs. 16,000/- no need to Deduct TDS.

Limit u/s 194J is 30,00/- that is also not applicable in your case.

Make sure about p.a limit.

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CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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27 January 2015 TDS will be attract in the said transactions as these are below thresh hold limits.

Thresh hold limit is as under,
for 194C it is Rs.75000/- p.a. (or single payment 30,000/-)

for 194J it is Rs. 30000/- p.a.

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CA Deven

CA Deven (Expert)
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27 January 2015 Dear Devanand,

kindly see he has mentioned the payment amount as well ..so based on the limit and his payments TDS will not be attracted.

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CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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27 January 2015 Sorry, I wanted to say TDS will not attract.

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2015 THANKS TO ALL FOR YOUR SUGGESTIONS.