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Tds should be deducted or not?

This query is : Resolved 
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(Querist)
20 June 2008 if indivual payments to a party for a contract didnot exceed Rs20000 but in the last month of the year the total payment exceeded Rs50000 then should we deduct on the whole amount including the first payments?
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CA Vivek Jain

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CA Vivek Jain (Expert)
20 June 2008 Yes
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Shekar

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Shekar (Expert)
20 June 2008 Yes Vidya..U should deduct(Recover) TDS on all previous payments once the amount crosses Rs.50000..
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Dayal

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Dayal (Expert)
20 June 2008 Yes it is to be deducted on the entire amount.

20000 is for a transactional amount, but it does not rule out the payment for total amount paid during the financial year.
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