TDS Applicability on Contractual Payments
This query is : Resolved
05 November 2021
Sir,
I want to know the TDS Applicability in respect of contractual payments under section 194C. I have availed a GTA Service liable for TDS under section 194C. Following invoices were received during the financial year 2020-21:
05-04-2020 Invoice Value 15000+Tax
06-05-2020 Invoice Value 20000+Tax
08-12-2020 Invoice Value 35000+Tax
From the above case I was liable for TDS in respect of third bill on 08-12-2020 and the same was deducted and paid. Then I want to know whether I was liable for TDS in respect of first two invoices as the yearly limit of 100000 was not exceeded?.
In the same example if the third bill was at Rs. 20000+Tax, but I voluntarily deducted and paid TDS in respect of that bill. In that cases also whether I am liable for first two invoices.
I want to know the TDS Applicability in respect of contractual payments under section 194C. I have availed a GTA Service liable for TDS under section 194C. Following invoices were received during the financial year 2020-21:
05-04-2020 Invoice Value 15000+Tax
06-05-2020 Invoice Value 20000+Tax
08-12-2020 Invoice Value 35000+Tax
From the above case I was liable for TDS in respect of third bill on 08-12-2020 and the same was deducted and paid. Then I want to know whether I was liable for TDS in respect of first two invoices as the yearly limit of 100000 was not exceeded?.
In the same example if the third bill was at Rs. 20000+Tax, but I voluntarily deducted and paid TDS in respect of that bill. In that cases also whether I am liable for first two invoices.
05 November 2021
In both the cases you are not liable for TDS on first two invoices.
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