Tds
This query is : Resolved
15 December 2014
Dear Experts
is tds deducted on lobour cost for wheat unloading at godown?
my clent makes entry in tally is:
Wheat Exp A/c Dr
to Imprest-xyz(person name)
should they Deduct tds?
is tds deducted on lobour cost for wheat unloading at godown?
my clent makes entry in tally is:
Wheat Exp A/c Dr
to Imprest-xyz(person name)
should they Deduct tds?
15 December 2014
if they are contracted labours then no tds is applicable
15 December 2014
What is the payers status? If status is Individual and Tax Audit was not applicable in previous financial year then TDS not required to be deducted. Otherwise TDS to be deducted u/s 194C if threshold limit is crossed.
Threshold limit:
Single payment Rs 30000/-
Annual payment Rs 75000/- p.a.
Threshold limit:
Single payment Rs 30000/-
Annual payment Rs 75000/- p.a.
15 December 2014
if your labour single bill is rs. 30000/- above
and in a year rs. 75000/- the you have to deduct the tds of the party you give the bill not the imprest a/c holder.
and in a year rs. 75000/- the you have to deduct the tds of the party you give the bill not the imprest a/c holder.
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