Tds on contractor payment
This query is : Resolved
29 December 2014
Hello friends !!
Please help to solve the problem,
We have given cont.to Mr X for 11 months for Machines overhauling ( labour charges only)
from Dec'13 to Oct' 14 @ 7000/- per month
Monthly he has raised Bill & we had paid monthly full amount , no TDS ,
FY 13-14 - 7000 x 4 = 28000/-
FY 14-15 7000x 7 = 49000/-
Whether TDS is applicable ?,IF yes please provide any reference Judgement
Total Contract Value Rs 77000/- but not for any particular year.
URGENT Please
Please help to solve the problem,
We have given cont.to Mr X for 11 months for Machines overhauling ( labour charges only)
from Dec'13 to Oct' 14 @ 7000/- per month
Monthly he has raised Bill & we had paid monthly full amount , no TDS ,
FY 13-14 - 7000 x 4 = 28000/-
FY 14-15 7000x 7 = 49000/-
Whether TDS is applicable ?,IF yes please provide any reference Judgement
Total Contract Value Rs 77000/- but not for any particular year.
URGENT Please
29 December 2014
No. TDS not required to be deducted since annual threshold limit of Rs 75000/- has not been crossed in any year. So in both years TDS deduction not required u/s 194C.
CA Parul Saxena
(Expert)
30 December 2014
yes no tds is required to be deducted as yearly limit of Rs.75000 is not exceeded in any financial year.
Message likes :
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Rupesh Jain
(Expert)
30 December 2014
no tds required due to u/s 194C amount is below the limit giving in above section.
31 December 2014
Thanks a lot for reply Boss.
Another One Contract is there where Conct Amt is Rs 72,000/-.(Apr14 - Mar15 Rs 6000/-PM) the same has been paid monthly also.
Whether Tds applicable ? limit crossed Rs 30,000/-.
Another One Contract is there where Conct Amt is Rs 72,000/-.(Apr14 - Mar15 Rs 6000/-PM) the same has been paid monthly also.
Whether Tds applicable ? limit crossed Rs 30,000/-.
31 December 2014
No. TDS not required to be deducted since Rs 30000/- limit is for single bill and total payment during the year is also below Rs 75000/- threshold limit.
Message likes :
1 times
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