CA Gaurav Choradia (Relationship Manager ) (418 Points)
01 December 2012As per 194C there is 2 limits for TDS...
Rs 30000 Single Payment / credited and
Rs 75000 (aggregate during the F. Year) now i want to ask that ...
If a contract of manufacturing of Building amounts to Rs 60000 but paid and credited in equal 6 installments then whether TDS applicable?? whether TDS applicable as there is a single contract but credited and paid in 6 equal installments.
V Vara Prasad
(Chartered Accountant)
(212 Points)
Replied 01 December 2012
As per 194 C it is given if a single payment exceeds 30000 then u need to deduct TDS
since u made six due entries so there is no question of TDS deduction
hello,
T.D.S u/s 194c should be made where the amount paid or credited to a contractor/sub-contractor exceeds
1) rs 30000/- in single payment,or
2) rs 75000/- in aggregate during the financial year.
conclusion; if your payment not more than rs 75000/- during the period 2012-13.then it is not liable for tax deduction u/s194c.
in the present case, not liable for t.d.s u/s 194c for your case.
Anand Rathod
(Accountant)
(24 Points)
Replied 01 December 2012
I want to know abour tds return filling with RPU Version [ NSDL].
How to fill & How submite ?
Help me.
ANAND RATHOD
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