Give your opinion whether TDS to be deducted or not:
Example: Payment made to Contractor in year does not exceeds Rs. 75,000/- (As per Limit), cheque has been issued as under:
1. Rs. 38,500.00 (Treat as Bill also the cheque has been issued same day)
2. Rs. 20,000.00
3. Rs. 16,400.00
Now tell TDS to be deducted or not becasue if we consider on single payment it is exceeding single limit of Rs. 30,000/- in One payment but overall Rs. 75,000/- limit is not excedding.
CAclubindia
