10 September 2012
Hello, I have doubt about TDS deduction, I need pay Rs. 30500 to a contractor as we knw we need deduct tds if amt excesses Rs. 30k. In order not deduct the TDS I wanted do payment partly like 50% now, 50% later. pls advice me.
10 September 2012
if u payment less than rs 75000 during the financial year and single payment is less than rs. 30000 u need not deduct tds
Querist :
Anonymous
Querist :
Anonymous
(Querist)
10 September 2012
If single payment Rs. 31000. I wanted to make the payment partly like 15000 now, remaining Rs. 16k late. I this case should I deduct the TDS? PLS TELL ME.
10 September 2012
U can go ahead with the idea. But ask for two bills from the contractor. because the act says No deduction shall be made under 194 c if the amount of any sum credited or paid or likely to be credited or paid to the account of, or to, the contractor or sub-contractor, if such sum does not exceed thirty thousand rupees. since it includes likely to be paid better take two bills and pay separately.
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