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
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
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.
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 :
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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.
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
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.
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
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.
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