Tds %??
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 March 2016
Pvt ltd co paid 10000/- to NPC staff club for making advertisements in their magazine.is it tds should be deducted? how much % ?
Ankur Singhal
(Expert)
26 March 2016
DEAR
SECTION 194C IS APPLICABLE BUT AS THE AMOUNT IS BELOW THE THRESHOLD LIMIT NO REQUIREMENT TO DEDUCT TDS.
THRESHOLD LIMIT
Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Finance Year
SECTION 194C IS APPLICABLE BUT AS THE AMOUNT IS BELOW THE THRESHOLD LIMIT NO REQUIREMENT TO DEDUCT TDS.
THRESHOLD LIMIT
Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Finance Year
CA SUNIL K GARG
(Expert)
26 March 2016
Provisions of section 194C would apply in relation to payments made to persons who arrange advertisement, broadcasting, telecasting, etc.
Threshold
Single Transaction = 30,000, Aggregate during FY = 75,000
Company, Firm, Co-op Soc., Local Authority = 2% Individual, HUF = 1%
If No PAN OR Invalid PAN = 20%
In you case payment made is only Rs. 10000/-, so no TDS is required to be deducted. However if payment exceeds Rs. 75000/- during the FY, TDS will be deducted on whole amount.
Threshold
Single Transaction = 30,000, Aggregate during FY = 75,000
Company, Firm, Co-op Soc., Local Authority = 2% Individual, HUF = 1%
If No PAN OR Invalid PAN = 20%
In you case payment made is only Rs. 10000/-, so no TDS is required to be deducted. However if payment exceeds Rs. 75000/- during the FY, TDS will be deducted on whole amount.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
