Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2016 Dear all

i need to deduct tds on contractors, monthly bill 19000/-, actually roll is above 30000/- a payment to possible to deduct tds,or 75000/- p a, right, i doubt is 75000/- P A means single payment of, 19000 X 12months.? plz clarify about 75000 P A

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 April 2016 Threshold limit for deduction of TDS u/s 194C:

Single Bill/Payment Rs 30000/-

Annual Total Rs 75000/- p.a.

So if it is likely that Rs 75000/- p.a. will be crossed then start deducting TDS from very first bill.

Message likes : 1 times

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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01 April 2016 Yes agree with sanjay sir,
75000 PA is a amount when you are not paying but credited that party bill thats the difference between 30000/- and 75000/- Paid and Payable.

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