Tds

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

02 September 2011 Respected sir/madam,
According to Sec 194c Tds should deduct if the following 2 condition satisfied
1) If the amount of any sum credited or paid exceed Rs 30000/- and
2) the aggregate of the amounts of such sums credited or paid during the F.Y.exceeds Rs 75000/-

but if i raised 1st bill of Rs 26000/- and second bill raised of Rs 31000/- here 1st condition is satisfied in 2nd bill (i.e.Amount exceed Rs 30000/-) and 2nd condition (i.e. Aggreegate of Rs 75000/-) does not satisfied here my question is that on first bill shall TDS should be deducted or not

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 September 2011 My view, either one condition is crossing then you need to start deduct TDS ,so you need to deduct total amount including previous amount

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