TDS
This query is : Resolved
Manasa Ranjan Samal
(Querist)
04 April 2010
Sir,
Kindly reply the meaning of threshold limit in TDS
Kindly reply the meaning of threshold limit in TDS
04 April 2010
THRESHOLD LIMIT OF TDS MEANS THE MONETARY LIMIT BEYOND WHICH TDS NEED TO BE DEDUCTED.
FOR EXAMPLE:--
U/S 194C THRESHOLD LIMIT FOR SINGLE PAYMENT IS RS.20000/-(RS.30000/- W.E.F. 01.07.2010). IT MEANS IF SINGLE PAYMENT UPTO RS.20000/- IS MADE TDS IS NOT REQUIRED TO BE DEDUCTED. BUT IF THE AMOUNT EXCEEDS RS.20000/- TDS NEEDS TO BE DEDUCTED.
FOR EXAMPLE:--
U/S 194C THRESHOLD LIMIT FOR SINGLE PAYMENT IS RS.20000/-(RS.30000/- W.E.F. 01.07.2010). IT MEANS IF SINGLE PAYMENT UPTO RS.20000/- IS MADE TDS IS NOT REQUIRED TO BE DEDUCTED. BUT IF THE AMOUNT EXCEEDS RS.20000/- TDS NEEDS TO BE DEDUCTED.
CMA Ramesh Krishnan
(Expert)
04 April 2010
agreed
CA Ashok Kumar Sahu
(Expert)
05 April 2010
agree with expert
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