Regarding section 194c
This query is : Resolved
27 January 2014
Hello,
I want to ask is I got a Liability to deduct TDS when :
I had mad a payment of Contract to 4 different parties Rs.20000/- so the aggregate amount of payment reaches to 80,000/- which is more than 75,000 but to different parties .. Whether I have to deduct TDS?
Thank You
I want to ask is I got a Liability to deduct TDS when :
I had mad a payment of Contract to 4 different parties Rs.20000/- so the aggregate amount of payment reaches to 80,000/- which is more than 75,000 but to different parties .. Whether I have to deduct TDS?
Thank You
CA Mohit Bansal
(Expert)
27 January 2014
Hi Rani,
No! you need not to deduct TDS in this case
No! you need not to deduct TDS in this case
AVTAR SINGH
(Expert)
27 January 2014
No. Deduction is partywise. If single payment made to a party exceeding Rs.30,000 or all payments taken together in a financial year to one party exceed Rs.75,000, then you are liable to deduct TDS u/s 194C.
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