tds on contractors u/s 194C
This query is : Resolved
29 July 2009
Let us sppose we received some service from contractor from previous and no any payment made on that year again we coutinously received the service in current year which is not exess of Rs. 50000 but for the settelment of account we paid the total amount which is exess of Rs. 50000. For example previous year balance is 8145. current year work is Rs. 42592. we paid during the year Rs. 51200. In this situation, we should deduct the tds or not. reply as soon as possibe.
thanking you
thanking you
30 July 2009
TDS is to be paid on the basis of payment or booking whichever is earlier. In your case u seems to have booked expenses in respective Prev. years and which does not qualify for deduction of tax in same PY. Hence even if you make payment for full and final settlement you are not supposed to deduct TDS
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- Not able to file ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
