Tds u/s 194c
This query is : Resolved
NAGESH AMBADAS KANAKI
(Querist)
26 December 2013
Our client has made payment one time to a contractor of Rs. 32000/- and TDS has been deducted on the same but afterwords made a payment 10000 and 15000. Now my question is whether to deduct tax on such payment of Rs 25000/- even if aggregate does not exceeds 75000/-? Is there any case law in this regards?
Guest
Guest
(Expert)
26 December 2013
NO.YOU NEED NOT TO DEDUCT TDS FOR THE SAME.JUST GIVE THE SIMPLE JUSTIFICATION IF REQUIRED THAT AT THE TIME OF FIRST PAYMENT IT IS EXPECTED TO CROSS THE LIMIT OF RS75000 BUT NOW IT IS CLEAR SO WE HAVE NOT DEDUCTED THE SAME.
CA Pallav Singhania
(Expert)
26 December 2013
Agree as the threshold limit hasn't cross, no need to deduct TDS for the same...
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