TDS Limit 20K & 50K (194C)

This query is : Resolved

Guest

Guest (Querist)

03 October 2008 Hi Experts

1) I have incurred an expenditure which is subject to TDS provision u/s. 194C as follows;

Bill No. 1 dtd 01.05.08 for Rs. 5000/-
Bill No. 125 dtd 25.08.08 for Rs. 16000/-

I have made payment as follows on above bills,

Rs. 21000/- dtd 26.08.08 through Single Cheque.

Now whether TDS will be deducted as per section 194C which says the "Payment or Credit of Single(Sum).."???

2) Secont Question is that the transactions are as above but the payment is made in advance as follos.

Rs. 21000/- dtd 05.04.08 and then bills as mentioned above have been received.

Now in this case whehter TDS needs to be made or not???

CA Rohit

PIYUSH JAIN

PIYUSH JAIN (Expert)
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03 October 2008 1) If you have paid the amount of both the bill in respect of one contract then it is covered u/s194c, if it is for two separate contracts and amount for whole year doesn't exceed 50000 then no tds will be deducted.

2)Advance payment does not make any difference in above ANSwer.

Guest

Guest (Querist)

03 October 2008 Thanks but still we will see what other experts think

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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04 October 2008 Mr. Piyush has correctly stated.

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