Tds 194c

Dear karthik Tds is basically deducted for the party on the estimated transaction basis. I mean to say that if you think a party x transaction will be more than 75000 then deduct tds on the same from the very first entry itself. In your case if the tds liability does not exceed Rs.75000 then there is no statutory requirement to deduct tds on Rs.5000. But I suggest you for safer side you must deduct the amount of tds and deposit the same. I hope my answer satisfactory to you. regards

Hi Manoj,

Is the provisions of IT Act also like the PF like in the sense once it is applicable it continues to remain applicable .. i.e. once TDS made for Rs.40,000 one bill then  keep deducting for subsequent bills ???...