Tds deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2013
A company is deducted tds on jobwork of his any client in a f.Year because his jobwork amount is 150000/-. If next year the amount of jobwork is 10000-15000, then it is necessary to deduct TDS.
Manish Bhandari
(Expert)
18 December 2013
No the thresehold limit is applicable year to year basis so not required.
Message likes :
2 times
18 December 2013
Manish is right..The tds provisions is applicable on the basis of amount of transaction of that year and not previous year.
Message likes :
2 times
CA Tousif Ahmed
(Expert)
19 December 2013
If jobwork is 10000 - 15000 in a year then TDS is not required to be deducted under sec.194c as this amount is below threshold limit.
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