T.D.S. provisions
This query is : Resolved
11 October 2009
If an assessee not deducted tds while making payment but subsequently in same F.Y. ( by crossing limit say Rs 50000 u/s 194C or 120000 u/s 194I) he is required to deduct tds
my query is while deducting TDS on Subsequent payments whether he is required to deduct tds on payment made earlier or just deduct only on subsequebt payment?
my query is while deducting TDS on Subsequent payments whether he is required to deduct tds on payment made earlier or just deduct only on subsequebt payment?
11 October 2009
he is required to deduct on all earlier payments also.
11 October 2009
Deduct on all payments even on earlier payments.
12 October 2009
No, tax is to be deducted only on subsequent payments...
Pls read the provision in detail..
Pls read the provision in detail..
12 October 2009
TAX HAS TO BE DEDUCTED ON ALL PAYMENT AS SOON AS THE THRESHOLD LIMIT (RS. 50000) IS CROSSED
12 October 2009
Suppose if first 5 bills comes to Rs.40000
and 6th bill Rs.20000
TDS should be calculated for Rs.60000(40000+20000) @ 10%
It is better to deduct from all parties from 1st bill onwards in order to avoid such situation.
and 6th bill Rs.20000
TDS should be calculated for Rs.60000(40000+20000) @ 10%
It is better to deduct from all parties from 1st bill onwards in order to avoid such situation.
Message likes :
1 times
12 October 2009
I agree with Mr. Kumar only in case you know that annual payment will exceed the threshold limit or INR 50,000 or 1,20,000 as the case may be.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Building and other construction workers welfare cess act 1996
- Article ship defecit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
