banner_ad

Tds

TDS 535 views 2 replies

Sir,

I have a confusion regarding deduction of tds on payment.

Pls tell me sir,

Suppose say Rent on Plant and Machinery (Rate of TDS is 2%)

Threshold limit is given 1,80,000.00 and above

 

Now say when we have hired a machinery from a paricular party. At the end of the month he raises a bill on us for the first time say for Rs. 50,000.00. (Now whether we have to deduct tds on this amount or what)

OR we will have to  wait until it payment crosses 1,80,000.00 in a year.

How it works.

Please clarify.

 

Thanks

 

Sushant

Replies (2)

The limit of TDS is 180000/-. If you wait for the limit to be exhausted than you will be liable to pay interest on late payment of TDS and also you will have to revise the TDS return for that period. Now you have to decide whether the payment will go beyond 180000 or not. Its better you deduct TDS as the party to whom you are making payment can claim that amount and you can be saved from any penal interest because of non*deduction of TDS.

Anjali is fully correct. I beg to differ that no revised TDS return is to be submitted if the payer did not deduct tax on estimated probable income.

 

regards


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details