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
CA Roshan Jha
(Expert)
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.
CA Roshan Jha
(Expert)
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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