23 June 2011
I paid Advertisement Expenses of Rs.29,000/- in Apr 2011 to a Newspaper Agency. Again another bill of Rs.25,000/- and Rs.20,000/- for the Months of May 2011 and June 2011 respectively. Now the total Bills amount to Rs.74,000/-. Since no single bill crossed Rs.30,000/- I did not deduct any TDS. Now my next bill for the month would amount to Rs.25,000/-. Now My aggregate of payments during to the party will exceed Rs.75,000/- and Now on what amount should I deduct TDS - Whether on the last bill alone of Rs.25,000/- or the previous bill of Rs.74,000/- is also liable to deduction of Tax?
CAclubindia
