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Lower deduction certificate

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2016 Dear expert,
LDC = Lower Deduction Certificate
LDC limit RS. 26,12,90,000/-
LDC Period : 30/4/2015 to 31/03/2016
LDC printed date : 25/10/2015
LDC received date : 01/11/2015

Period TDS Rate Expense booked Payment made
01/04/2015 to 31/10/2015 2% 192701217 155719862
01/11/2015 to 31/12/2015 0.87% 76903268 60688196
01/01/2016 to till date 0.87% 12686235 26623600
Total 282290720 243031658
Limit 261290000

Now my question is we have considered lower deduction on Apex. 9 crore and limit is Rs. 26.12 crore but if we consider period from 01/04/15 limit exceeds Rs. 26.12 crore, so should I start deducting tds @ 2%??? If yes from which month January or February??

Please reply it is urgent…

Thanks in advance
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Deepti Asawa

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Deepti Asawa (Expert)
28 January 2016 You should deduct TDS @.87%
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2016 Thank you mam but if we consider total payment for the period 30/04/2015 to till date exceeds limit of Rs. 26.12 crores.
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Deepti Asawa

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Deepti Asawa (Expert)
28 January 2016 Total amount exceed limits but you have deducted Lower TDS only on 9 crore which is below limit
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2016 Thank you mam but so if i continue lower deduction no question will be raised by department in future,,,??
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Deepti Asawa

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Deepti Asawa (Expert)
28 January 2016 As per my knowledge department will not have any query regarding this
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2016 ok mam thank you very much for your valuable reply and time.
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