naina singh (student) (111 Points)
02 July 2008Greeting Members,
During the audit i have to check the TDS part, can any one provide me the expenses on which the TDS will be deducted Like, One of my friend say that on Couier charges TDS will be deducted if the amount exceeds Rs. 20000/-. So Please members/Friends help me by providing the list on which TDs will be deducted , it will be very helpful in my audit.
Thanks & Regards
Naina
Suresh Singh Rajput
(Accounts)
(176 Points)
Replied 02 July 2008
TDS on contracts to be made for single payment above Rs. 20000 /- and if amount exceeds above Rs. 50000 /- in a year, Sec 194 C
DHARMENDRA KAPOOR
(CA)
(178 Points)
Replied 03 July 2008
READ THOROUGHLY TDS CHAPTER FROM ANY TAX BOOK AT LEAST SUBJECT MATTER OF SEC LIKE 192,194A,194C,194H,194I,194J WHICH IS VEY COMMON MUST BE CLEAR MATTERS LIKE APPLICABILITY,DEDUCTION TO BE MADE ON,WHEN TO DEDUCT,TIME OF DEPOSIT,RATE AT WHICH DEDUCTION TO BE MADE AND SOME I,P CASE LAWS.
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 03 July 2008
CAclubindia
