garg pankaj (Student) (53 Points)
11 November 2008If a Person eligible for deducting TDS is having different assets and take AMC of differnet Assets Individualy so that AMC BILL amount for each Individual Asset is less then Rs. 20000.00, But from only One AMC provider so that his total AMC Bill Amount in a year from same Amc Provider Increase Rs 50000.00,then My question relates to Such problem:- Is TDS deductable?
vinay kumar dubey
(sales manager)
(0 Points)
Replied 12 November 2008
Bala
(CFO, Cogzidel)
(59 Points)
Replied 12 November 2008
Hello Mr. Pankaj,
194C of Income Tax Act, 1961 states that tax has to be deducted at source when the contractual payments to a person
- is in excess of Rs. 20,000 in a single transaction or
- crosses Rs. 50,000 collectively in a financial year.
Regards
Bala
Bhuvan
(Service )
(33 Points)
Replied 14 November 2008
194C of Income Tax Act, 1961 states that tax has to be deducted at source when the contractual payments to a person
- is in excess of Rs. 20,000 in a single transaction or
- crosses Rs. 50,000 collectively in a financial year.
Regards
Bhuvan
(Service )
(33 Points)
Replied 14 November 2008
Please tell TDS applicable on service tax or not.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 15 November 2008
A new Notification has come which says that in case of Rent(Section 194I) TDS willbe beducted on bill amount less service tax but nothing has come regarding other sections of TDS.
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