Tds deduction
This query is : Resolved
27 October 2012
hello all
we are a proprietor co. so what would be tds deduction limit under 194c.
it is 30000 or 75000
we are a proprietor co. so what would be tds deduction limit under 194c.
it is 30000 or 75000
27 October 2012
If your turover does not exceed Rs.1 crore in a year, than you are not supposed to deduct Tds. Rs. 30,000 is the limit for single payment and Rs. 75,000 is for aggregate during the year.
27 October 2012
If u make single payment of Rs.30000/-or more to a person or aggregate of payment made/to be made during the year to a person exceeds Rs.75000/- then you need to deduct TDS @2% for companies & 1% for others.Hope Now it is clear to you.
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