I have a small doubt in TDS,
For some sections there is a limit for example 194C now ₹1,00,000
Ex:-
One person paid
On first quarter 15000
Then in 3rd quarter paid 90000.
Now my doubt is whether i have to deduct on entire amount i.e. 105000 or 5000
If i deduct on 105000 then for 15000 interest is applicable or not ??
I'm getting confused on which amount i have to deduct ??
Pls anyone clarify me🤔
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Doubt in TDS
Replies (13)
As per my knowledge tds is to be deducted on entire amount once the threshold or limit is exceeded
is there any interest for dealy payment??
Tds should be deducted on entire amount and no interest is payable for this . Because there is no delay , the liability to pay or deduct 5ds did not exist before.
thank you very much
Yes on entire amount of Rs 105000/-
You have deduct tax on last bill on whole amount that is 105000 and you have pay tax on next month till 7th day of that month
no interest is required
Tds has to be deduted on Full amount 15000+90000= 105000
https://www.charteredclub.com/section-194c/
This Link will solve your doubt on 194C, the example mentioned in this article helped me too.
TDS 1% Deduct on 105000 /-
if pan number is not available on deductee. then TDS Deducted 20% on 105000.00
TDS would be deduct on 105000 and no interest to be charged because at that time sealing limit wasn't applicable to TDS.
Yes TDS should be deducted on the entire amount and no interest shall be levied for late deduction as liability to deduct tds arises when you exceed the threshold limit.
thank you very much to all of you
TDS amount must be dedcuted on full amount
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