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Tds

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Querist : Anonymous (Querist)
10 January 2013 (TDS 194 j ) exempt upto 30000/-
if first bill amount 20000/- next bill 25000/- in a same year . in dis case 1st bill amount exempt from tds & next bill'll be charged know ?
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kartik_somu

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kartik_somu (Expert)
10 January 2013 No. it does not work like that.

For the first payment, TDS need not be deducted. but when it exceeds the limit in the same financial year, TDS on the total amount as to be deducted i,.e, on 45000.
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