Tds on contract
Querist : Anonymous
IN CASE OF TDS ON CONTRACT, SUPPOSE THERE ARE TWO PAYMENT TO SAME PARTY ,ONE ON 01/01/2014 OF RS 18000 AND OTHER PAYMENT IS ON 22/02/2014 AMOUNTING RS 35000.
MY QUERY IS RS 35000 WILL SUBJECT TO TDS PROVISION WITHOUT DOUBT, BUT WHAT ABOUT RS 18000 , WHETHER WE NEED TO DEDUCT TDS ON THAT AMOUNT ALSO?????
Querist : Anonymous
BUT MY CA IS SAYING THAT ONCE TDS PROVISION IS ATTRACTED , IT GETS ATTRACTED ON ALL AMOUNT CREDITED IN BOOKS
CAN ANY ONE SHARE ANY CASE STUDY OR JUDGEMENT FOR THE SAME
IF YOUR AMOUTN EXCEED 75000/- THEN YOU HAVE TO DEDUCT THE TDS
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