Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 May 2013 Dear All,

In case of TDS of interest (94A) & Brokage (94H) the limit of 5000 should be considered of single Party ?
Eg. I have to pay brokerage in total Rs. 8714 to Mr.A Rs. 4087 and to Mr.B Rs. 4627.
Now am i require to deduct tds as the total Rs. 8714 as the limit exceeds Rs.5000? or i should not deduct TDS as the limit in each case does not exceed Rs. 5000.
Please clarify Along with reason.

CA. PIYUSH GOEL

CA. PIYUSH GOEL (Expert)
Follow

09 May 2013 dear.. limits mentioned in all the TDS sections apply only on a single person not in an aggregate..

therefore in the example that you have taken above no requirement to deduct TDS because payment made to both the persons is below 5000/-

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

09 May 2013 Can You give me any section reference mentioning specifically.

CA. PIYUSH GOEL

CA. PIYUSH GOEL (Expert)
Follow

10 May 2013 dear....

in all the sections it is clearly mentioned that any person responsible for paying ANY RESIDENT....

it means it talks about a person not amount paid to all the persons in aggregate..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now