Nishtha Narielwala (Tax Consultant) (131 Points)

27 April 2012  


Suppose I am contractee & have credited the contractor's a/c with 3 entries of Rs.20,000 each, but while making payment for the same I issue a single cheque of Rs.60,000. Am I liable to deduct TDS?

As far I believe I am supposed to deduct tax at source. Is it correct?