Tds threshold limit
This query is : Resolved
Prakash kumar
(Querist)
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 ?
CA AnKiT BoHrA (AB)
(Expert)
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- Reward for festival
- GSTR9 Annual Return
- Import of Capital Machine
- Gift to nri relatives resides in usa
- TDS Return Statement Status
- RCM and same line
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- EXPORT PAYMENT
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
