194c tds on payment to contractors and sub-contractors

Hi there.

Consider the situation:

I have four contractors A,B,C,D

The following Payments I have paid to them.

A- Rs.25000,15000,25000

B-Rs.25000,25000

C-Rs.10000,Rs.15000

D-Rs.25000

How do I take the payments for calculating TDS?

Should I take sum of all payments for seeing whether it has crossed Rs.100000 or Should I take Individual contract wise?

If it is Individual wise I don't have to deduct any TDS right? (As it has not crossed the limits of Rs.100000/Rs.30000)

Kindly clarify the situation.

Thanks and regardssmiley

Replies (3)

Prescribed limits will be applicable contractor wise.

Thank you very muchsmiley

Per Contractor / Per Year Crossing Rs.1 Lac or Single Bill Exceeding Rs.30000/- TDS to be deducted. Below the Limit no need to deduct

 

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