Applicability and deduction of tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 December 2013 Hello,

If an individual has entered for a contract @6500 per month i.e. 78000 per annum as on 01.11.2013, whether payee required to deduct TDS or not on such payment although payment is released on monthly basis?

24 December 2013 yes it is deductible. Refer 194c(5). the section shall apply even where it is likely that annual payment shall exceed Rs 75000.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 December 2013 Hello,
Mr. Kaushik,

There is also one issue in the said query that since actual payment is done of Rs.32500.00 i.e. Rs.6500 per months for F.Y. 2013-14, what will be applicability?

24 December 2013 friend that is why I said where it is likely. As you said that during the current year it wont, you may not withhold any tax.


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