Sec.194c

This query is : Resolved

lokesh (Querist)
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22 January 2015 i want to know about contractor payment. when payment aggregate is > 75000. then we r eligible to deduct tds . ok . but last payments done to contractors r not eligible to deduct tds. because of humm toh contractor ko payment karr chuke hai. ab woh kyun aane lgaa tds waapis karnee....????? can u please sought out this problem of mine....

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 January 2015 Threshold limit for deduction of TDS u/s 194C is:

Single Bill - Rs 30000/-
Annual Total - Rs 75000/-

If you expect Annual total to cross Rs 75000/-, you can start deducting TDS from the beginning.

If the above limits are not crossed then TDS not required to be deducted.

Rupesh Jain

Rupesh Jain (Expert)
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22 January 2015 you have to deduct the tds whene you make payment or make credit in his a/c whichever is earlier.

the you have to deposit the tds.

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