Limits Crosess- Lower deduction Certificate amount- TDS appl

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Mr. CA (Querist)
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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 ?

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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12 April 2011 See you need to interpret the answer from the exact wordings of the TDS exemption certificate.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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12 April 2011 If you can reproduce the exact phrase of the certificate, then only the correct reply is possible.

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