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