regarding TDS
This query is : Resolved
27 December 2010
DEAR SIR,
SUPPOSE TDS ON SUB-CONTRACTOR NOT DEDUCTED EARLIER BECAUSE LIMIT NOT CROSSED AGGREGATE OF RS70000/- BUT NOW IT CROSSES THE LIMIT THEN TDS WILL BE APPLICABLE ON WHOLE. IS INTEREST ALSO APPICABLE FOR TDS NOT DEDUCTED EARLIER.
PL. CLERIFY WITH SECTION.
SUPPOSE TDS ON SUB-CONTRACTOR NOT DEDUCTED EARLIER BECAUSE LIMIT NOT CROSSED AGGREGATE OF RS70000/- BUT NOW IT CROSSES THE LIMIT THEN TDS WILL BE APPLICABLE ON WHOLE. IS INTEREST ALSO APPICABLE FOR TDS NOT DEDUCTED EARLIER.
PL. CLERIFY WITH SECTION.
27 December 2010
TDS will be applicable on Whole amount.
TDS need to be deducted on day on which the threshold limit is crossed and to be deposited by 7th of Next month. If deposited by 7th of next month no interest payable otherwise interest will be levied @ 1.5% p.m. or part thereoff.
TDS need to be deducted on day on which the threshold limit is crossed and to be deposited by 7th of Next month. If deposited by 7th of next month no interest payable otherwise interest will be levied @ 1.5% p.m. or part thereoff.
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taxindiaconnect
(Expert)
27 December 2010
Agree with sanjay
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