18 August 2014
If we pay amount to any contractor under below of exemption limit.. eg 30000/- per payment or 75000.00 p.a to contractor U/s 94C If Contractor fail to provide PAN copy is TDS 20% deductible in case if payment exceed the exemption limit or from the first bill.
Example :- if we pay to a contractor only Rs.15000/- and he fail to give PAN card copy , should we deduct TDS 20% or No need to deduction because amount is under the exemption limit.
19 August 2014
NO, if payment is made below exemption limit then there is no need to get PAN. but if once the limit is crossed you need to get PAN otherwise 20% tds.
19 August 2014
Transporter are fully exempt from first bill if provide PAN copy. Then If a transporter not provide PAN copy at the time of first bill eg. for Rs.5000/- is TDS 20% from first bill
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