CA Final
814 Points
Joined January 2008
If the bill amount exceeds Rs.20000.00, then TDS should be deducted on it immediately.
If single bill amounts doesnot cross Rs.20000.00, but when cumulatively taken for the whole year, the amount paid to the party exceeds Rs.50000.00, then TDS should be deducted.
194C is applicable to both contractor and sub contractor.