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TDS deduction

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(Querist)
20 January 2008 what is the limit of amt for deducting TDS on it, kindly send me the details as soon as possible, thank you
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S.RAVICHANDRAN

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S.RAVICHANDRAN (Expert)
20 January 2008 IT depends on the nature of transactions. if it is contract transaction the limit is Rs.20000.If it is brokerage or agency commission it is Rs.2500/- and if it is interest other than bank interest , it is Rs.5000. All are per annum basis.
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Amit Sharma

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Amit Sharma (Expert)
21 January 2008 (1)total aggregate of all the bills should exceed 50,000

OR

(2)Gross amount of one bill should exceed 20,000




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