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
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
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.
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.
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Murtaza I Bhagat
(Expert)
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.
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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