04 February 2012
in case of section 194c i.e. tds on contractor, basic exemption limit cross after fourth transaction in particular financial year. if i have not deducted TDS for first 3 invoice payments & deduct TDS together for all four invoice payments in fourth transaction then am i liable to pay the interest on late payment of TDS for first 3 invoice..........
04 February 2012
but what about first 3 payment in which i have not deducted tds............... & ma question m i liable to pay interest o tds for late payment of tds i.e. deducted in fourth payment.......?????
04 February 2012
If single transaction amount and overall exemption limit are crossing in 4th payment, you are not liable for any penalty for earlier payments.
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