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Section 194c

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 June 2013 Is there is any Specific Limit to be excluded, AS VALUE OF MATERIAL, from Total Bill Amount before calculating TDS Amount?
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Ganeshbabu K

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Ganeshbabu K (Expert)
04 June 2013 Sec. 194C is applicable and tax will be deductable

if single bill exceeds 30,000 or total credits to party during financial year exceeds 75000

No tds if it is not exceeds threshold limit as given above

HOW EVER IN CASE OF BILL CONSISTING CHARGES FOR WORK AND VALUE OF MATERIAL USED,

Please refer 194C subsection 3

(i) on the invoice value excluding the value of material, if such value is mentioned separately in the invoice; or
(ii) on the whole of the invoice value, if the value of material is not mentioned separately in the invoice.
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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
04 June 2013 No specific limit for that

Value of Material as separately mentioned in the bill is to be deducted from that total bill amount
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 June 2013 Thank You Sir......
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