Tds on contractors

This query is : Resolved

Aji .p.aravind (Querist)
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20 February 2015 Dear Sir,

I have deducted the tds from a party of contract nature as mentioned below;

Month Bill Amount Tds
Dec-14 22,000.00 Nill'
Jan -14 15000.00 300.00 deducted & deposited.

Here my issue is that ,
1.Whether Tds for Rs.22000.00 should also be deducted and deposited next month / i should see the limit of Rs.75000.00
2.Whether any liability will arise if i didnt deduct and pay the tds aganist the Dec as well as future months bills.

Kindly advice.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 February 2015 TDS u/s 194C required to be deducted when threshold limit is crossed.

Threshold limit:

Single Bill/Payment Rs 30000/-

Annual Total Rs 75000/-

In your case neither of the two limit is crossed. So no TDS is required to be deducted. There will be no issue is you deducted and paid TDS on one of the bill. Apply threshold limit for other cases.

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