Tds on exact cut off limit

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AAKASH PATIL (Querist)
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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

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.
.

AAKASH PATIL

AAKASH PATIL (Querist)
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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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