194c
This query is : Resolved
14 September 2012
u/s 194c if the single payment exceeds Rs.30,000/- TDS should be made and in a year if the aggregate payment exceeds Rs.75,000/- TDS should be made..
But if a single payment of 35,000 was made and TDS deducted....subsequently another 10000 was paid to the same party... whether it attracts TDS or not??
Please clarify..........
But if a single payment of 35,000 was made and TDS deducted....subsequently another 10000 was paid to the same party... whether it attracts TDS or not??
Please clarify..........
Amol S Joglekar
(Expert)
14 September 2012
Yes, it attracts the TDS.
CA Jeen paul
(Expert)
19 September 2012
the limit of Rs.30000/- single payment is to avoid deduction in petty cases. when a contractor enter into a single transation more than above limit, he becomes a major.
and should make tds from all his payments
and should make tds from all his payments
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