TDS Deduction

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SURESH KUMAR.P (Querist)
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29 October 2009 I am working in a private limited company. we have operate 5 branches with separate TAN and sigle PAN.Also maintain separate books of accounts.At the time of finalisation we prepare consolidated Balance sheet as well as P&L for filing IT retrun.Every branch paid courier payment to X Ltd company(same company) for Rs.12000/-per year.In this situatoin we liable to deduct tds for the payment. My question is the ceiling rate Rs.15000/ per payment & Rs.50000/- per year for every branch or the whole company.Because branch wise we not paid more the Rs.50000/-but whole company wise exceed Rs.50000/-.What we do. WE liable to deduct TDS for contractor in every branch sum wise or consolidated wise?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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29 October 2009 Branch wise limit cannot be availed. So all branches and HO need to deduct tax.

chetan soni

chetan soni (Expert)
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29 October 2009 i agree with the expert. As the limit is specified for the assessee. Assessee means a person who hold the pan. In your case the pan is allocated to company & branches are doing the payments for individual bills, at the time of consolidation the limits should be verified.

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