Tds limit calculated on whole division or ????

This query is : Resolved

Deepak (Querist)
Follow

03 February 2012 TDS Limit say, Payment to Contractor-- Rs.75,000.
Calculated on Whole Division or on single company forming part of that division.

For eg: one common supplier for 2 companies & that companies are part of a single Division.

TDS limit-- where to apply on whole division or on single company????

Guest

Guest (Expert)

03 February 2012 TDS limit will apply on single company as they have separate identity

Message likes : 1 times

Mihir Doshi

Mihir Doshi (Expert)
Follow

03 February 2012 Each company is separate assessee in the eyes of IT Law, so Limit is also applied individually to each company.

Message likes : 2 times

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
Follow

03 February 2012 Agreed with Mr Ashwin and Mihir. Since they are different entities they will be having different PAN also. You cannot club group as a whole. Ex. TATA Group :

Message likes : 1 times