On which amount TDS should be deducted u/s 194C
1st bill of Rs. 9,000
2nd bill of Rs. 10,000
3rd bill of Rs. 50,000
Should the TDS be only deducted on Rs. 50,000 i.e. 50,000*1% = 500 or it should be deducted on whole amount i.e. Rs. 69,000*1%=690?
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Tax Deducted at Source TDS
Replies (2)
over Rs. 69,000/-...........
It should be deducted on 3rd bill 50000/- in this scenario but as n when total payment amount for a year exceeds 75000/-, you have to deduct on the entire amount on which tds has not been deducted earlier.
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