TDS
This query is : Resolved
13 January 2020
I paid a vendor against a single, total bill of 50k, for which I gave an advance and then later the remaining payment, each less than 30k. Do I have to file TDS on this?
This transaction falls under payment to a contractor (194C).
This transaction falls under payment to a contractor (194C).
13 January 2020
Hi Pooja, Please specify the nature of transaction
13 January 2020
I am extremely sorry, but I'm new to the jargons, what does 'nature of transaction' here mean?
14 January 2020
I mean type of payment, nature of expenditure, rent, contractual or against purchases?
14 January 2020
It is a payment to a contractor.
15 January 2020
Under the following circumstances for contractual payments, TDS is not required to be deducted –
1. The amount paid or credited to the contractor in a single contract doesn’t exceed INR 30,000.
2. The aggregate amount paid or credited during the financial year doesn’t exceed INR 1,00,000.
Hence in the instant case the TDS is not required to be deducted. I hope your query gets solved here. Should you have further query in the matter, please contact on the email id for timely response.
1. The amount paid or credited to the contractor in a single contract doesn’t exceed INR 30,000.
2. The aggregate amount paid or credited during the financial year doesn’t exceed INR 1,00,000.
Hence in the instant case the TDS is not required to be deducted. I hope your query gets solved here. Should you have further query in the matter, please contact on the email id for timely response.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- ITR returnFY25-26
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
