TDS ON CONTRACT PAYMENT

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2011 IN COURIER SERVICE, ON DIRECT EXPANCE OF SUNDRY CREDITORS THE PROPRIETOR PAID MORE THAN RS.50000/- PER YEAR WITHOUT DEDUCT TDS TO HIS CREDITORS.SO IS THERE ANY PROBLEM WHEN THE ASSESSEE FILE HIS ITR ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 July 2011 No Problems.
Annual limit is Rs 75000/-
Single Bill Rs 30000/-

Also check if the Proprietor is falling under the net of Tax Audit and requires to deduct TDS.

For details see below article---

https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp

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