TDS
This query is : Resolved
10 December 2009
Hello!
If a company has entered into professional contract for an amount exceeding Rs. 20000/- but the bill raised and payment made by the company is less than Rs. 20000/-.
Is there any liabilty for the deduction of TDS while making payment of less than Rs. 20000/-.
If a company has entered into professional contract for an amount exceeding Rs. 20000/- but the bill raised and payment made by the company is less than Rs. 20000/-.
Is there any liabilty for the deduction of TDS while making payment of less than Rs. 20000/-.
10 December 2009
Hi,
if bill or payment is less than Rs.20000/- than TDS is not required to be deducted however lateron if the total payment or credit exceeds Rs.20000/- than on professional contract, TDS will have to be deducted on full amount.
if bill or payment is less than Rs.20000/- than TDS is not required to be deducted however lateron if the total payment or credit exceeds Rs.20000/- than on professional contract, TDS will have to be deducted on full amount.
10 December 2009
I agree with Mr. Vikas, and I would like to add some point as if you make expense/payment to a professionl against his services more than 20,000/- in a year(F.Y.) than TDS liability will arise other wise no need to deduct.
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