Clarification on TDS to be Deducted

it does not matter about the offices of company.company is a "assessee" under income tax act .

The threshhold limit applies to whole of the company not to individual offices

TDS SHOULD BE DEDUCTED ON TOTAL AMOUNT IRRESPECTIVE OF BRANCHES

Dear Narsimhan,

we have to verify bill wise as well as accumilated payment also as per income tax act.

e.g: ( 194C) bill amount less than Rs. 20,000/- but payment made per annum Rs. 75,000/- or more we need to deduct TDS.

if payment made less than Rs.75K per annum & invoice less than Rs. 20K no need to deduct TDS.

Regards,

I think the annual threshold limit for payments made is Rs 50,000, not Rs 75,000. Kindly anyone clarify.

Originally posted by : Krishna
	I think the annual threshold limit for payments made is Rs 50,000, not Rs 75,000. Kindly anyone clarify.

Under Section 194C, the threshold limit per contract is Rs. 30000 (w.e.f. 01.07.2010 earlier 20,000) and Rs. 75,000 (w.e.f 01.07.2010 earlier 50,000) for annual payment.

Krishna

Thirshold limit w.e.f.1-7-2010 under section 194C is increased to Rs.75000/-