Tds
This query is : Resolved
Dipak D Diwakar
(Querist)
11 February 2015
in 194J Rs 30000 is single amt or aggregate amount if some party gives the bill rs 25000 and 2nd bill rs 20000 in one financial year how much TDS should deduct us 194J
11 February 2015
it is aggregate amount in a year that u need to check once it exceeds the threshold limit then deduct on total amount considering all the bill in a year.
https://www.charteredclub.com/section-194j/
https://www.charteredclub.com/section-194j/
Ganeshbabu K
(Expert)
12 February 2015
1)Limit is for full year.if payment exceeds limit TDS applicable on full payment.
2)if you not deducted TDS on first bill,okay.but on second bill you need to collect TDS for ealier payments also as you are exceeding the threshold limit here.
From second bill deduct TDS 4500(2500 for first bill and 2000 for 2nd bill)
.
.
and balance amount can be credited to the party
2)if you not deducted TDS on first bill,okay.but on second bill you need to collect TDS for ealier payments also as you are exceeding the threshold limit here.
From second bill deduct TDS 4500(2500 for first bill and 2000 for 2nd bill)
.
.
and balance amount can be credited to the party
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