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tds of contractor

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(Querist)
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?

3. A CO. MAKES A CONTRACT OF 21000?

4. A CO. MAKES 2 CONTRACTS OF 23000 EACH ??


PLZ CAN ANY ONE SOLVE MY PROBLEM ??
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CA JAIMIN TRIVEDI

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CA JAIMIN TRIVEDI (Expert)
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
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