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CA ankit gangwal

CA ankit gangwal (chartered accountant)     03 August 2012

194c payment to contracter tds

in sec 194C it has been given either Rs.30000 per payment or Rs. 75000 per year. Therefore even if individual payments do not exceed Rs30000 and the entire payment for the year exceeds Rs75000 then TDS will be deducted on the entire amount.

 



 25 Replies

sanjeev

sanjeev (articleship)     01 August 2012

on entire amount 90000.
1 Like
neeraj

neeraj (CA)     01 August 2012

on entire 90000 agree

1 Like
@*CS Siddharth Bumb. *

@*CS Siddharth Bumb. * (B.Com, CA Final, CS )     01 August 2012

on 90000 .... :-)

1 Like
Saurabh Maheshwari

Saurabh Maheshwari (B.com,ACA)     01 August 2012

Yes the law relating to TDS says this only that deduct tax on entire 90000 which makes TDS something Tedious.

1 Like
ramakrishna

ramakrishna (AM - Finance)     01 August 2012

on entire amount of Rs. 90000/-, start deducting from 2nd payment onwards.

 

1 Like
Ravishankar K

Ravishankar K (Accountant)     01 August 2012

Originally posted by : ramakrishna


on entire amount of Rs. 90000/-, start deducting from 2nd payment onwards.

 But if the amount does not exceed 75000 in that FY the contractor would not be liable for TDS deduction. 

 


1 Like
arun kumar

arun kumar (accountant)     01 August 2012

on 90000 .

1 Like
CA PRAVEEN SINGH

CA PRAVEEN SINGH (MANAGER ACCOUNTS)     01 August 2012

Originally posted by : arun kumar

on 90000 .

Agree with all above....

1 Like
CA Govind Gupta

CA Govind Gupta (Proprietor)     01 August 2012

TDS is to be deducted on whole amt i.e. 90000.00.

1 Like
Santosh V. Thakur

Santosh V. Thakur (Sr. Accountant)     01 August 2012

@ Rohit,

Section - 194C -TDS on Contract -TDS exemption as under

Criteria- 1. Bill booking / Payment  Rs.30,000/- per bill /payment (whichever is earlier)

OR 

Criteria -2. Rs.75000/- per year.

Section applied to any  one of Criteria No.1 or  Criteria No.2  &  NOT for BOTH Criteria 

Hope you understand the exemption Criteria.

You should deduct on Rs.90000/- whole amount.

 

1 Like
 *RENU SINGH *

*RENU SINGH * (✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ )     01 August 2012


on entire amount of Rs. 90000/-, start deducting from 2nd payment onwards.

 But if the amount does not exceed 75000 in that FY the contractor would not be liable for TDS deduction. 

  agree with ravishankar

CA Karan Lodhi

CA Karan Lodhi (CA and B.com(hons.))     01 August 2012

Yes..All are correct

On the whole amt. Rs. 90,000

 

CA. Sandeep Kumawat

CA. Sandeep Kumawat (CA)     01 August 2012

@ Rohit. If agreement provide contract value > 75000 in a year, then its better to deduct TDS from 1st payment itself.

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