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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 October 2013 under sec-194c payment to contract limit is rs-30000/-
if the contractor bill is below rs-30000.no need to deduct tds.
kindly clear the concept.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
11 October 2013 If the bill amount is less than Rs. 30,000 the TDS is NOT required to be deducted.

However, if the AGGREGATE of payments/bill in a year exceeds Rs. 75,000 the TDS is required to be deducted on ALL the payments/bills (even if all bills are less than Rs. 30,000)
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
12 October 2013 Agreed with above ans.
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