Tds on contactor
This query is : Resolved
CA RAJIV RANJAN
(Querist)
28 April 2014
Dear sir
As per sec 194c Tds to be deducted if single paymnt is above 30000 or 75000 pa. My question is if single payment is below 30000. can we deduct tds @ 20 % if not provided pan no.
As per sec 194c Tds to be deducted if single paymnt is above 30000 or 75000 pa. My question is if single payment is below 30000. can we deduct tds @ 20 % if not provided pan no.
Sandeep Dharar
(Expert)
28 April 2014
No, the limit is 35K, and if the limit dosen't exceed then no need to deduct TDS.
Nikhil Kaushik
(Expert)
28 April 2014
the limit is thirty thousand only.
so if the single billing exceeds Rs 30000, tds has to be deducted. If the individual billings are less than Rs 30000 but overall billing in the year exceed Rs 75000, tds has to be deducted.
with regards to absence of PAN, even if each bill is less than Rs 30000 but annual payment to the said party exceeds Rs 75000, 20% TDS shall apply.
so if the single billing exceeds Rs 30000, tds has to be deducted. If the individual billings are less than Rs 30000 but overall billing in the year exceed Rs 75000, tds has to be deducted.
with regards to absence of PAN, even if each bill is less than Rs 30000 but annual payment to the said party exceeds Rs 75000, 20% TDS shall apply.
CA RAJIV RANJAN
(Querist)
28 April 2014
Thanks a lot nikhil jee,
can u provide the circular no regarding it.
can u provide the circular no regarding it.
Nikhil Kaushik
(Expert)
28 April 2014
it is under act. refer section 194c and 206AA.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- GSTR-9C filing
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Capital gains in IT returns
- Form 144 TDS Return Validation Error – Mandatory Fields
- Advances to related party
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
