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 Deduction at Source (TDS)
Replies (4)
on whole amount
no only on the third bill
It should be only on the 3rd bill
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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