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Regarding TDS

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(Querist)
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?
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CA V. Mohanakrishnan

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CA V. Mohanakrishnan (Expert)
13 June 2010 11-12
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Deepak Goel

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Deepak Goel (Expert)
13 June 2010 It is applicable from A.Y. 2011-12
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
13 June 2010 APPLICABLE WITH EFFECT FROM 01.07.2010
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
14 June 2010 Agreed with Sanjay Ji, It is applicable from 1st July 2010 for AY 2011-12.
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Pankaj Jhawar

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Pankaj Jhawar (Expert)
14 June 2010 APPLICABLE WITH EFFECT FROM 01.07.2010
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Shyam Lal Naik

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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.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
19 June 2010 APPLICABLE WITH EFFECT FROM 01.07.2010
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