Query
This query is : Resolved
02 March 2016
aggregate amt. is Rs.100000 for TDs deduction under 194c what is single bill amt.? is 30000 or changed
02 March 2016
If Rs.100,000/- is paid to the contractor TDS u/s 194 C would in any case be applicable. The exemption from TDS is if a single payment is below Rs.30,000/- and the total payment in the financial year does not exceed Rs.75,000/-. Since the amount in question is Rs.1,00,000/- TDS @ 1% or 2% as applicable ought to be deducted and deposited in the month the total amount exceeds Rs.75,000/- provided none of the payments exceed 30,000/-. Otherwise in the month a payment of Rs.30,000/- is made TDS is applicable from that month.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- FEMA regulation Act. for inward remitance
- Difff in ais receipts and gst turnover
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
