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Tds

neeraj (CA) (930 Points)

26 April 2012

Whether TDS will be deducted U/s 194C if there is only a single transaction of Rs.50,000 in a year and condition of 75000 not satisfied.In Act what is written "AND or OR". I think TDS will be deducted what's ur opinion ?

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11 Replies

(Guest)

as per the act, if the payment of a single bill is in excess of 30,000/- OR if all the payments done to the same party in a financial year are in excess of 75,000/- then tds will be deducted.

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neeraj (CA) (930 Points)
Replied 26 April 2012

thnx a lot, i was sure about that but my colleague confused me.

nitin suvarna (C.A FINAL) (828 Points)
Replied 26 April 2012

sir,

yes tds will be applicable since the words are "OR" (single payment(30000) or aggregate of payments(75000))

Mihir Doshi (B.Com, CA, CS, LLB) (2187 Points)
Replied 26 April 2012

TDS will be applicable because the single payment exceeds INR 30,000/-

neeraj (CA) (930 Points)
Replied 26 April 2012

thnx a lot to all..............

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Vidhya (111 Points)
Replied 26 April 2012

Under section 194C,It is Rs.75000/- for the whole year and if a single conract/bill exceeds Rs.30000/-.Even if a single transaction exceeds Rs.30000 TDS will have to be deducted

Harkesh Kumar (Finance Manager) (97 Points)
Replied 26 April 2012

TDS to be deducted if single payment made to supplier exceed Rs. 30000/- OR amount paid 75000/- in a year.

CA PRAVEEN SINGH (MANAGER ACCOUNTS) (2277 Points)
Replied 26 April 2012

IF THERE IS A SINGLE PAYMENT IS 30000 OR EXCEED THEN TDS IS TO BE DEDUCTED.DO NOT CONSIDER ABOUT ANNUAL 75000

Rup Kumar (finance manager) (288 Points)
Replied 26 April 2012

Agree with all above.

jjkeshav (accountant) (22 Points)
Replied 20 May 2013

hi all help me in this regard....

For quarterly tds return Jan 2013 to Mar 2013, tds payment 4513 is paid thru net banking on 28th of march 2013, tally.erp9 does not accepts while creating text file for validation.

what to do.... help me.....