TDS ON CONTRACT
This query is : Resolved
02 January 2021
An invoice #01 received from book binding contractor of Rs.25000/- on dated 30.11.2020 at that time tds was not deducted.
Now again the same contractor issued invoice #02 of Rs.38000/- on dated 30.12.2020 and we deducted TDS u/s 194C as one single invoice is greater than 30000/-.
My query is now we are also liable to deduct the TDS on first invoice #01 of Rs.25000/- as said above ? If yes then with interest ?
Now again the same contractor issued invoice #02 of Rs.38000/- on dated 30.12.2020 and we deducted TDS u/s 194C as one single invoice is greater than 30000/-.
My query is now we are also liable to deduct the TDS on first invoice #01 of Rs.25000/- as said above ? If yes then with interest ?
02 January 2021
No, need till total payment for the year crosses 75000. Interest not applicable.
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