TDS Confusion


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Querist : Anonymous

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Querist : Anonymous (Querist)
16 June 2010 Hello

I have paid Rs. 19071, Rs, 12803 , Rs. 21583 and Rs 47447 to a press for publishing my books.

Now the press is asking to issue a TDS Cert. for The payment of Rs. 47447 only. They say tax as Rs. 1570.

Should I deposit only Rs. 1570 only. As far as I know TDS is deducted on amount exceeding Rs. 30000. Will earlier payments will be combined at the end of the year for calculating TDS.

16 June 2010 if the amount exceeds Rs.30,000 in a single invoice or exceeds Rs.75,000 in aggregate of all the invoices in a year than TDS is required to be deducted. Hence in ur case it should be deducted on the aggregate value of all the invoices as it exceeds Rs.75,000

16 June 2010 agree with expert

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 June 2010 The how much TDS I should deposit. Am I still liable to deposit even if my concern is not liable to AUDIT us 44AB.


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