Tds

This query is : Resolved

sanjay (Querist)
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19 October 2012 Hello All
I am Sanjay. I want to know about TDS. If individual makes payment to contractor for white washing and polishing above Rs.75000/- a year then he has to deduct tds or not? For eg. I have made a payment of Rs3L in a year to the same contractor, then will I deduct and deposit TDS. Kindly advise. It is urgent.
Regards
Sanjay

CA Navin Jain

CA Navin Jain (Expert)
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19 October 2012 yes deduct tds under sec 194C.

CA C.JANANI

CA C.JANANI (Expert)
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19 October 2012 It is not applicable if you are not running business and in your individual capacity ,if you are making payments. Say for whitewashing residence etc.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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20 October 2012 personal paymens by indl and huf are not covered by TDS
Indl and huf need to deduct tax only if carrying on business that too if in previous FY there turnober exceed limit specified under section 44AB
CA MANOJ GUPTA
JODHPUR
09828510543

CA.Amit Revankar

CA.Amit Revankar (Expert)
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20 October 2012 If u r accounts are subject to tax audit and payment to contractor is expenditure related to business, then u shud deduct tds, otherwise u will not get the deduction of said expenditure for tax purpose

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