Tds on 194c
This query is : Resolved
Poorna Chand Guditi
(Querist)
26 February 2019
Hi,
Please clarify me on TDS to be deducted on transactions of 194C for the following case:
1.First transaction with a value of INR 19,000 dated 1.4.2018
2.Second transaction with a value of INR 50,000 dated 1.6.2018
Query:
Do we need to deduct TDS on both bills?
Please clarify me on TDS to be deducted on transactions of 194C for the following case:
1.First transaction with a value of INR 19,000 dated 1.4.2018
2.Second transaction with a value of INR 50,000 dated 1.6.2018
Query:
Do we need to deduct TDS on both bills?
26 February 2019
Are transactions single contract?
Poorna Chand Guditi
(Querist)
26 February 2019
Let's assume both cases:
What if it is a single contract and if it is not single contract?
What if it is a single contract and if it is not single contract?
26 February 2019
If amount paid or credited does not exceed Rs. 30,000 in a single payment and Rs. 1, 00,000 in aggregate during the financial year.
Poorna Chand Guditi
(Querist)
26 February 2019
Please refer to my query by considering bill dates and Do i need to deduct TDS on both bills?
Udaya Chandran
(Expert)
27 February 2019
You need to deduct TDS on Rs.50000/- only till the total is within Rs.1,00,000/- in a year.
Poorna Chand Guditi
(Querist)
27 February 2019
Thank you very much!
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