Tds deduction
This query is : Resolved
14 July 2014
Dear experts,
A Company has 3 bills of forwarding charges from ABC & Co for Rs. 10000 in April-13, for Rs.30000 in may-13 and in march-14 for Rs. 10000. Whether should i deduct TDS ? If yes how should i deduct ?
Please suggest me ASAP.
A Company has 3 bills of forwarding charges from ABC & Co for Rs. 10000 in April-13, for Rs.30000 in may-13 and in march-14 for Rs. 10000. Whether should i deduct TDS ? If yes how should i deduct ?
Please suggest me ASAP.
14 July 2014
Section 194C will apply. TDS not required ti be deducted since threshold limit if Rs 30000 for single bill or Annual limit of Rs 75000 is not crossed.
14 July 2014
Thanks and Actually single bill cut off is Rs.30000 according to 194c . So I have deducted TDS on May bill and filed TDS returs too. So what should i do now and how it works.
14 July 2014
No need to do anything. Deductee will get the credit of TDS amount while filing income tax return.
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