Limits Crosess- Lower deduction Certificate amount- TDS appl
This query is : Resolved
12 April 2011
We are munufacturing Co. One of our deductee has provided us NIL deduction Certificate upto amount of Rs. 10 Lacs. The certificate is obtained by them from their Range officer. So, We are not deucting TDS on the amount paid to them upto Rs. 10 Lacs. Just before the year the Limit has crossed 10 lacs. Are we liable to deduct tax only on exceeded amount or full amount including the threshold limit of 10 lacs ?
12 April 2011
See you need to interpret the answer from the exact wordings of the TDS exemption certificate.
12 April 2011
If you can reproduce the exact phrase of the certificate, then only the correct reply is possible.
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