Scenario: In a financial year, there are previous bills to the contractor each less than Rs. 30,000. A single subsequent payment is made to the contractor exceeding Rs. 30,000, but the total payments made throughout the year (including the one exceeding Rs. 30,000) don't exceed Rs. 1,00,000.

Question 1: Under Section 194C, for the payment exceeding Rs. 30,000, should TDS be deducted only on the amount exceeding Rs. 30,000 or on the entire amount paid to the contractor so far?

Question 2: In this scenario, considering the total payments remain under Rs. 1 lakh for the financial year, would TDS be deducted on future payments to the same contractor even if the individual bill amount stays below Rs. 30,000?
Note: Here single bills are assumed to be from different contracts.
i am of the view that answers to both of these would be in negative because 194C (5) says: "No deduction shall be made from the amount of any sum credited or paid or likely to be credited or paid to the account of, or to, the contractor, if such sum does not exceed thirty thousand rupees"
This to me means that Deduction is prohibited from any bill (previous or future) if it does not exceed 30000 subject to the yearly 100000 threshold.

If a trust, such as an educational foundation, receives a donation in the form of cash from a private limited holding company as part of its Corporate Social Responsibility (CSR) activities in India, and it has been utilized for the objectives of the company. Whether Form 10BD Need to file or not. it is sufficient to file form 10BB only. Kindly clarify it.

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'.

Hi Friends,
Here s a Pvt co company which regularly pays to Yoga Teachers to provide Yoga practices to its directors at their residence, the invoice is issued in the name of the company at its regd arddress. I want to know
1. Can the bills of Yoga teacher/instructors be booked as business expenses for providing classes for Yoga, Stress management and wellness program for directors.
2. What if the same classes is provided to entire staff at the premises of the company or the yoga instructor.

Please share your thought on above and the conditions when such expenses are allowed as business expenses.


Thanks
P C Joshi

Dear Sir,
We are preparing TDS Return 24Q. while preparing 24Q some of employees claimed HRA exemption more than 100000 and submitted the owner pan number. Here issue is some of employees owner pan numbers is inoperative. Is there any issue while filing the 24Q return or is there any Disallowance of HRA exemption during the processing of 24Q Return.

Thanks & Regards,
Bheema Reddy.

We have received default for short deduction of TDS in 24Q return. We have failed to deduct and pay 4% Education cess. Now I have two options

1. Pay the default
2. I have missed to deduct Rs. 50,000 standard deduction. So, can I file revised return by deducting standard deduction? By this, the total income comes less and the TDS+CESS is less than what we have deducted.

Which option should I choose.

Thank you

X having Salary Rs.450000.00
Other Income Rs.150000.00
Investment Rs.150000.00

Is tds is require to be deducted and TDS return to be file or not.

T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'.

How to solve the error T_FV_6351 Applicable and Mandatory For Financial Year 202324 onwards 'Other special allowances under section 10(14)'.

sir please advise a sum of Rs 3000 per month received from pvt party for filing of gst return the above amount may be shown in salary account in ITR-1 and ITR-2 or shown in other income head in income tax return?
D P kapoor 9810600330