Tds threshold limit
This query is : Resolved
17 April 2015
All dear sir , if any party deducting tds of 2% in services provided by us as a cab service . Then i want to know after which amount they shall deduct tds ?
17 April 2015
they are deducting tds under contract i.e. 194 C on the bill amount...!!
As u r a company tds deducted rate is 2 %
As u r a company tds deducted rate is 2 %
17 April 2015
on amount excluding the service tax i,e ony on service portion
19 April 2015
Question asked over here is for threshold limit.
They should deduct TDS if threshold limit u/s 194C is crosed.
Threshold limit:
Single Bill Rs 30000/-
Annual Total Rs 75000/- p.a.
So if your Single bill is more than Rs 30000/- then TDS should be deducted or if the Annual Total of all bills is more then Rs 75000/- then TDS is to be deducted. TDS to be deducted on total amount is threshold limit is crossed.
They should deduct TDS if threshold limit u/s 194C is crosed.
Threshold limit:
Single Bill Rs 30000/-
Annual Total Rs 75000/- p.a.
So if your Single bill is more than Rs 30000/- then TDS should be deducted or if the Annual Total of all bills is more then Rs 75000/- then TDS is to be deducted. TDS to be deducted on total amount is threshold limit is crossed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- Sale of Mutual Funds In Diffirent Financial Years
- CASH GIFT FROM BLOOD RELATIVE
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Old Traces Portal
- Query regarding reporting of exempt foreign remuneration in ITR
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
