Tds deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2015 SIR,

WHAT WILL BE TDS APPLICABILITY IF A VENDOR IS RAISING INVOICE AMOUNTING RS.16000/- WHICH FALLS U/S 194C & SAME VENDOR RAISING INVOICE AMOUNTING RS.21000/- WHICH FALLS U/S 194J. PLEASE SUGGEST TDS WILL BE DEDUCTED OR NOT.

REGARDS,
VIKAS

CA Deven

CA Deven (Expert)
Follow

27 January 2015 Hi Vikas,

Limit u/s 194C is 30,000 per contract & Rs. 75000/- p.a since your payment is Rs. 16,000/- no need to Deduct TDS.

Limit u/s 194J is 30,00/- that is also not applicable in your case.

Make sure about p.a limit.

Message likes : 1 times

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
Follow

27 January 2015 TDS will be attract in the said transactions as these are below thresh hold limits.

Thresh hold limit is as under,
for 194C it is Rs.75000/- p.a. (or single payment 30,000/-)

for 194J it is Rs. 30000/- p.a.

Message likes : 1 times

CA Deven

CA Deven (Expert)
Follow

27 January 2015 Dear Devanand,

kindly see he has mentioned the payment amount as well ..so based on the limit and his payments TDS will not be attracted.

Message likes : 1 times

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
Follow

27 January 2015 Sorry, I wanted to say TDS will not attract.

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2015 THANKS TO ALL FOR YOUR SUGGESTIONS.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now