Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 May 2013
Sir i have following query.:
Say if payment made to contractor is as follows:
Ist payment 10000
2nd payment 30000
3rd payment 10000
Nw it is confirmed dat on 2nd payment tds will be deducted.. But since total payment during the year doesnot exceed 75000, thn wud tds be deducted on 3rd payment??
Looking forward to the reply asap...
Say if payment made to contractor is as follows:
Ist payment 10000
2nd payment 30000
3rd payment 10000
Nw it is confirmed dat on 2nd payment tds will be deducted.. But since total payment during the year doesnot exceed 75000, thn wud tds be deducted on 3rd payment??
Looking forward to the reply asap...
Guest
Guest
(Expert)
17 May 2013
if payment exceeds Rs 30000 only then tds will be deducted not on Rs 30000,
and in a year also sum does not exceed Rs 75000 hence no liability of deducting Tds
and in a year also sum does not exceed Rs 75000 hence no liability of deducting Tds
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