TDS u/s 194C
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2011
During a year, a single contract was of Rs.40,000/-(exceeds Rs.30,000/-) and other two contracts were of Rs.10,000/- each.
TDS will be deducted on single contract of Rs.40,000/-. Does TDS will also be deducted on other two contracts also as the total payments made were Rs.60,000/-(they are below Rs75,000/- p.a.
Please suggest.
During a year, a single contract was of Rs.40,000/-(exceeds Rs.30,000/-) and other two contracts were of Rs.10,000/- each.
TDS will be deducted on single contract of Rs.40,000/-. Does TDS will also be deducted on other two contracts also as the total payments made were Rs.60,000/-(they are below Rs75,000/- p.a.
Please suggest.
14 July 2011
If the contractor is the same person, and once you have deducted TDS on 40000/-, then
it is advisable to deduct TDS on his further contracts also.
However, if the two 10000/+10000/ bills are
received earlier than the 40000 bill, it will be sufficient to deduct TDS on the 40000 bill and can wait for crossing the limit of 75000/-
Please wait for more comments on this issue.
it is advisable to deduct TDS on his further contracts also.
However, if the two 10000/+10000/ bills are
received earlier than the 40000 bill, it will be sufficient to deduct TDS on the 40000 bill and can wait for crossing the limit of 75000/-
Please wait for more comments on this issue.
14 July 2011
In ur case tds would be deducted on rs. 60000,
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