TDS and 40A(3)
This query is : Resolved
07 July 2009
two bills of RS 18000 and 12000 of different days are paid on a same day in cash. will 40a(3)be attracted ?
two bills of RS 18000 and 12000 of contract raised on different days are paid on a single day . Is TDS liable to be deducted ?
two bills of RS 18000 and 12000 of contract raised on different days are paid on a single day . Is TDS liable to be deducted ?
Ratan Sharma
(Expert)
07 July 2009
Hi Dhruv.
1. As payment of both the bills are made on the same day and total amount exceed Rs. 20,000/- therefore it will be disallowed u/s. 40(a)(3).
2. As both the bills are below Rs. 20,000/- No TDS is required to be made u/s. 194C.
1. As payment of both the bills are made on the same day and total amount exceed Rs. 20,000/- therefore it will be disallowed u/s. 40(a)(3).
2. As both the bills are below Rs. 20,000/- No TDS is required to be made u/s. 194C.
07 July 2009
it will not be disallowed as bill amount for each bill is less than 20000.
tds is not deductible.
tds is not deductible.
Ratan Sharma
(Expert)
07 July 2009
There is an amendment in sec. 40(a)(3) that if the payment is made in a single day in excess of Rs. 20000/- , even in installments below Rs. 20000/- then the same will be disallowed.
CA Nitin Wadhwani
(Expert)
07 July 2009
1)Sec.40(A)(3) is attracted.It will be disallowed.
2)TDS is not applicable.
2)TDS is not applicable.
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