Deduction of tds

This query is : Resolved

Rani (Querist)
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05 September 2012 if we are making payment to our subcontractor of rs 10000 for a particular project and assign another project in next month paid for the same Rs. 71000/- weather to deduct tds on 1st project or not.

Please help me. It is urgent for me.

Guest

Guest (Expert)

05 September 2012 tds is to be deducted if total payment exceeds the cap .i.e. you have to include earlier payment also if you have not deducted tds on that.

CA. Ajay Agrawal

CA. Ajay Agrawal (Expert)
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05 September 2012 dear Rani,
as the facts of the case, as the total to be paid in 2 installments is going to cross the threshold limit, and as the liability of the TDS on first payment is to be paid by 7th OCt 2012, u r advised to deduct the TDS and Deposit the same in CG treasury. And if the payment to subcontractor is made then pay it frm ur pocket and adjust the same in the next payment.

Rani

Rani (Querist)
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04 October 2012 Thank You so much Mr. Ajay Agarawal and Mr. Dipesh Shah for your valuable advice.

Rani

Rani (Querist)
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04 October 2012 Sir
Please tell me i have file the return of service tax, income tax & tds also there is is refund how i will get that refund and how i will received the tds receivable if tds is deducted by our party is there any procedure. please let me know?

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