Regarding TDS
This query is : Resolved
13 June 2010
Is it true that the limit for deduction of TDS on contractor and prof fees for a single bill is increased from Rs.20000 to Rs.30000? And for which A.Y is it applicable 10-11 or 11-12?
CA V. Mohanakrishnan
(Expert)
13 June 2010
11-12
Deepak Goel
(Expert)
13 June 2010
It is applicable from A.Y. 2011-12
13 June 2010
APPLICABLE WITH EFFECT FROM 01.07.2010
14 June 2010
Agreed with Sanjay Ji, It is applicable from 1st July 2010 for AY 2011-12.
Pankaj Jhawar
(Expert)
14 June 2010
APPLICABLE WITH EFFECT FROM 01.07.2010
Shyam Lal Naik
(Expert)
14 June 2010
Threshhold (wef 01/07/2010):
TDS on Contractor : - Single Bill, Rs. 30K, Annual limit: - Rs. 75K
TDS on Professional/Technical Service : Annual Limit : Rs. 30K.
In case of Professional fee, the question of single bill upto Rs. 30K does not arise.
TDS on Contractor : - Single Bill, Rs. 30K, Annual limit: - Rs. 75K
TDS on Professional/Technical Service : Annual Limit : Rs. 30K.
In case of Professional fee, the question of single bill upto Rs. 30K does not arise.
CMA Arif Farooqui
(Expert)
19 June 2010
APPLICABLE WITH EFFECT FROM 01.07.2010
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