I want to know on which amount TDS is to be deducted u/s.194C for A.Y.2012-13?
First Bill : - 20,460/-(Labour Bill)
Second Bill:-30,411/-(Labour Bill)
Tds is to be deducted on only 30,411/- or 50,871/-(i.e. on Both)?
Yogesh Mistry (Practice) (47 Points)
15 August 2012I want to know on which amount TDS is to be deducted u/s.194C for A.Y.2012-13?
First Bill : - 20,460/-(Labour Bill)
Second Bill:-30,411/-(Labour Bill)
Tds is to be deducted on only 30,411/- or 50,871/-(i.e. on Both)?
Deepak Gupta
(CA Student)
(15922 Points)
Replied 15 August 2012
| Originally posted by : Yogesh Mistry | ||
 |
since the aggregate limit for tax deduction in a year has not crossed Rs. 75,000 whereas the limit of Rs. 30,000 for a single payment has been crossed. |
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U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 15 August 2012
if both bills are payable to same person or same business idendity then gross amount is liable for TDS u/s 194C(1), otherwise only send bill is liable for TDS deduction.
Venkat
(Dy. Manager Finance)
(272 Points)
Replied 16 August 2012
Tds is to be deducted on only 30,411/-
since the aggregate limit for tax deduction in a year has not crossed Rs. 75,000 whereas the limit of Rs. 30,000 for a single payment has been crossed.
Shah Tarun
(Student)
(800 Points)
Replied 16 August 2012
Amber Jain
(Article Assistant)
(206 Points)
Replied 16 August 2012
If both bills pertains to same person then TDS has to be deducted.
K.MADHESH
(Accountant)
(21 Points)
Replied 31 August 2012
I want to know on which date for TDS interest non-deduction and non-payment calculation u/s.194C for A.Y.2012-13? deduction date 30/06/2011 and payment date 15/07/2011
Bill No.
1) Rs.26,400 dt 08/04/2011
2) Rs.15,000 dt 06/05/2011
3) Rs.25,040 dt 25/05/2011
4) Rs.22,000 dt 15/06/2011
Tds interest to be calcuated on only Aggregate amount for all bills exceed Rs.88,440/- (15/06/2011)or interest to be calculated in first bill date(i.e. on Both)?
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