194c(1)
This query is : Resolved
12 November 2014
if i have received bill up to date Rs- 22000 on contract services can i liable deduct TDS
or Not?????
or Not?????
Amol S Joglekar
(Expert)
12 November 2014
No. But if you are sure that the amount is likely to exceed the limit in the financial year, start deducting tds from first payment itself. Else income tax has nothing to restrict you from paying in full so long as it is not exceeding the limit set in the section for single payment and consolidated.
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