Amt on which tds to be deductd u/s 194c
This query is : Resolved
25 January 2014
sir/mam I hv made payment to a contractor
1st 20000 in 2nd quarter
2nd 36000 in 3rd quarter
3rd 30000 in 3rd quarter
my question is that when 2nd paymdnt is made that exceed rs 35000 individualy , so tds is to be deducted on 36000 or on total payment till date.
similary if 2nd payment is rs 34000 & 3rd payment is rs 30000 which exceed rs75000 in agreate ,
so on which amt tds is to be deducted on the amt which exceed 75000 or on total 84000.
25 January 2014
This sec states that if payment is likely to exceed the limit then tds is to be deductedon whole amount. Therefore payment exceeds 75000 then tds is to be deducted on 86000.
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