Tds on exact cut off limit
This query is : Resolved
AAKASH PATIL
(Querist)
17 January 2013
Dear Experts,
Pls. let me know that may we deduct TDS, if the amount is exact cut off limit ? eg. Rent is payable for the financial year Rs.180,000/-, Contract amt. is payable for the year Rs.75,000. Awaiting your guidance.
Pranesh Kulkarni
Pls. let me know that may we deduct TDS, if the amount is exact cut off limit ? eg. Rent is payable for the financial year Rs.180,000/-, Contract amt. is payable for the year Rs.75,000. Awaiting your guidance.
Pranesh Kulkarni
CA PARAS BAFNA
(Expert)
19 January 2013
TDS is applicable only when the amount paid or credited exceeds the prescribed amount.
So in both the instances , no TDS is required to be deducted.
.
So in both the instances , no TDS is required to be deducted.
.
AAKASH PATIL
(Querist)
21 January 2013
Thanx your prompt reply. Now we do not deduct TDS, b`coz both are on exact cut off limit, not exceeded the limits.
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