Tds on wages

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k.b.nagesharao

k.b.nagesharao (Querist)
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31 March 2021 we are saree manufacturers and deducting tds @1% (0.075) up to march 31-2021. But from April if the weaver whose income is below taxable income and not summitted Income tax returns for the past 2 years is is must to deduct 5% or as usual 1% even from july-01-2021 too. any section with exemption or notification is this regard. Please give your valuable reply. thanks in advance
K.B.Nagesha Rao.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 March 2021 Condition for higher TDS.
Aggregate of tax deducted at source and tax collected at source in his case is Rs.50,000 or more in each of these two previous years.

k.b.nagesharao

k.b.nagesharao (Querist)
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31 March 2021 Small confusion sir 50000/- TDS limit for weaver or manufacturer . Thank you very much for your kind gesture sir

k.b.nagesharao

k.b.nagesharao (Querist)
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31 March 2021 Small confusion sir 50000/- TDS limit for weaver or manufacturer . Thank you very much for your kind gesture sir

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 March 2021 TDS limit for weaver is to be considered.

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k.b.nagesharao

k.b.nagesharao (Querist)
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01 April 2021 thanking you sir . well explained,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 April 2021 You are welcome...........

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