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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Tds
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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.
thnx a lot, i was sure about that but my colleague confused me.
sir,
yes tds will be applicable since the words are "OR" (single payment(30000) or aggregate of payments(75000))
TDS will be applicable because the single payment exceeds INR 30,000/-
thnx a lot to all..............
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
TDS to be deducted if single payment made to supplier exceed Rs. 30000/- OR amount paid 75000/- in a year.
IF THERE IS A SINGLE PAYMENT IS 30000 OR EXCEED THEN TDS IS TO BE DEDUCTED.DO NOT CONSIDER ABOUT ANNUAL 75000
Agree with all above.
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.....
please anybody reply me to solve this issue.....
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