per contract value rule in case of tds

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Kunj Bihari Agrawal (Querist)
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18 September 2009 what is the per contract value.
please clear the mean of per contract.
which time per contract value condition is aplicable for tds dedection.

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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18 September 2009 as for example .....each bilty for transportation is a contract....no tds if it is less than rs 20,000. however if freight to a transporter for for all his bilties in a year is more than rs 50,000 then also tds has to be made

Kunj Bihari Agrawal

Kunj Bihari Agrawal (Querist)
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18 September 2009 sir
i dnt under stand. in the case if per contract we count bilties or any written contract.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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20 September 2009 In the case transportation contract, each bilty is treated as a separate contract. How ever, if there is a contract of a continuing contract like a cement manufacturer engages a transporter to transport lime stone, than the above assumption will not apply.

Contract need not be in writing. Oral contract, evident from the conduct of the parties are as good as written contract for the purpose of TDS.

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