TDS 194C when paying more than 30,000

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accountant
953 Points Posted on 13 March 2021
we pay against contract bills to a party, all bills are below 30,000 but we have paid rs 40,000 by a single cheque... tds to be deducted or not?
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On 13 March 2021 at 16:29 Report
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This discussion clarifies the applicability of TDS under Section 194C when making payments for contract bills. If the total payment exceeds Rs 30,000, even if individual bills are below this threshold, TDS at 1% is generally required. It's advised to pay each bill separately to avoid TDS implications if they individually fall below the limit.

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Chartered Accountant
24588 Points Posted on 13 March 2021
Yes tds is to be deducted @ 1%
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On 13 March 2021 at 17:02
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17269 Points Posted on 13 March 2021
Pay seperately.
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On 13 March 2021 at 17:40

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