Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2012
Sir,
I have quiry on TDS on Contract.
One of the party has given 15000/- & 16000/- & 12000/- bills on different dates,
Shall i give the total amount at a time i.e Rs.43000/-
Shall I deduct the TDS on Rs. 43000/-
He will not cross the Rs.75000/- in a year
I have quiry on TDS on Contract.
One of the party has given 15000/- & 16000/- & 12000/- bills on different dates,
Shall i give the total amount at a time i.e Rs.43000/-
Shall I deduct the TDS on Rs. 43000/-
He will not cross the Rs.75000/- in a year
CA Suraj Lakhotia
(Expert)
07 January 2012
If you pay the entire Rs. 43,000/- in a single instance, then Tax has to be deducted.
If you pay them on different dates, No tax is to be deducted if you believe the aggregate payment will not exceed Rs. 75,000/-
If you pay them on different dates, No tax is to be deducted if you believe the aggregate payment will not exceed Rs. 75,000/-
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