Interest on tds
This query is : Resolved
27 November 2013
we made payment to contractor on10/04/2013 under section 194 c of rs 10000. on 2/12/2013 we made another payment of 67000 rs. should we liable for interest of 10000 rs.
27 November 2013
No. You need to deduct TDS on Rs 77000/- while making payment of Rs 67000/- since threshold limit will be crossed. So no interest required to be paid.
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