194c

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CA Sajan Rathod (Querist)

20 May 2016 Sir,
Payment to contactor as followed: This all payment made to same party.
Q-1
23/05/2015 Labour 2364
23/05/2015 Labour 53722
09/06/2015 Labour 285

Q-2
07/09/2015 Labour 12228

Q-4
18/01/2016 Labour 10518
28/03/2016 Labour 584
31/03/2016 Labour 9088

As Bill on 23/05/2015 is higher than 30000 we make to tds @1% or 2% as applicable.
I have question that whether once TDS applicabe it has duducted for each quater i.e Q-2 even if it is not exceed RS. 75000.
OR
It is only deducted in Q-4 when is exceed Rs. 75000.

Amol S Joglekar

Amol S Joglekar (Expert)

20 May 2016 "likely to be credited"..... to be on safer side (Conservative basis)
The words used are "likely to be credited".......taking the shelter of this, one should deduct TDS on each credit above 30,000. Does not have to wait till it crosses 75,000

Rupesh Jain

Rupesh Jain (Expert)

20 May 2016 as per 194C prov. if single bill Rs. 30000/- and Rs. 75000/- in year , they you have to deduct the tds. it is better when you pay single bill exceeds Rs. 30000/- from that you have to deduct the tds on big bill and when it cross rs. 75000/- then deduct on remaining bill.

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