19 March 2009
i wana know that u/s 194 c of TDS ON CONT. The words representing a contract exceeding rs. 20000 and aggregate of rs 50000. what is a meaning of that iam confused regarding a (PAYMENT or CONTRACT VALUE ).
i have some question ragarding this ..
1.A company makes 2 contract with a contractor of rs. 19000 each so is TDS SHOULD BE DEDUCTED OR NOT ?
2. A CO. MAKES A CONTRACT OF 49000 AND PAYMENT IS DONE RS. 20000 , 20000, 9000 EACH SO WHT SHOULD DO IN THIS CASE?
19 March 2009
The rule is that you have to deduct tds if either a single contract exceeds Rs.20000 or multiple contracts below Rs.20000 accumulate to Rs.50000 and above.Thus for 1) not to deduct 2), 3) and 4) deduct
CAclubindia
