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
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
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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