TDS-194 I

This query is : Resolved

Manjeet Mehra (Querist)
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17 April 2010 A party having an exemption certificate u\s 197 @3%(from 1-4-09 to 30-11-09) till the limit of rs.15 lacs.now the party had taken a new exemption certificate @0%(from 1-12-09 till 31.3.10)& on 15/04/2010 the party has issued a bill of Rs.40000/- dated 15/11/2009(back date)but the limit of Rs.15 lacs is over now. So plz tell me what is the rate of TDS to be charged on Rs 40000/-.

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Manjeet Mehra
CA-Final
9968515470

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 April 2010 IF LIMIT OF RS 15 LAC IS OVER DEDUCT TDS U/S 194 I @ 10%. (2% IN CASE OF RENT ON PLANT & MACHINERY)

Manjeet Mehra

Manjeet Mehra (Querist)
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17 April 2010 Sir
The party had taken a new exemption certificate @0%(from 1-12-09 till 31.3.10).How can we deduct TDS u\s 194-I?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 April 2010 BUT THE BILL IS DATED 15/11/09. THEN ASK THE PARTY TO GIVE BILL DATED AFTER 30/11/09.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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17 April 2010 If bill date is before 30th Nov then TDS will be dedcut if billing exceed Rs. 15 Lakh. If bill date is afterward 30th Nov then no tds will be deducted .