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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.
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Sohil Ganeriwala

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Sohil Ganeriwala (Expert)
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
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CA Gangadhar Mishra

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CA Gangadhar Mishra (Expert)
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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