TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2011
Is their any condition for Co. to deduct TDS of the payee (i.e condition for individual and HUf is 60 lacs turnover in Preceedng year for TDS deduction of payee)
Is their any such condition on company as such or is liable to deduct TDs without any conditions ??
Is their any such condition on company as such or is liable to deduct TDs without any conditions ??
06 June 2011
No such turnover criteria has been fixed for a company. It has to deduct TDS if the payment exceeds the threshold limit mentioned in the relevant section.
CA. Krishna K Neeraj
(Expert)
06 June 2011
Unlike individual/HUF, a company has to deduct TDS the amount of any payment/accrual of expenses exceeds the limit specified in the relevant section of TDS.
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