Tds 194c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2013 Sir,
There is no transaction exceeding Rs 30000, for vehicle hire chages. And TDS is deducted under section 194C.
Kindly help for the same. Is it correct to deduct or not?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 September 2013 If Annual payment is below the threshold of Rs 75000/- then TDS should not have been deducted.

Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2013 It is below Rs 75,000.
What could be the criteria

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 September 2013 Threshold Limit u/s 194C is

Single Bill Rs 30000/-

Annual Payment Rs 75000/-

TDS to be deducted if threshold limit is crossed.

Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2013 Yes,
I agree.
But it has been deducted.
Is it wrong totally or there is no harm if deducted?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 September 2013 No harm if deducted. File the return correctly and deductee will get the credit of TDS amount.

Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2013 Okay
Thank you sir.

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