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TDS

TDS 1141 views 7 replies
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COMPANY SECRETARY
336 Points Posted on 03 March 2008

If a Co.providing water cleaning service then on such services Tds should be deducted or not.If Yes then under which Section???????

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On 03 March 2008 at 09:33 Report
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1638 Points Posted on 03 March 2008
TDS is to be deducted if total payment exceeds Rs.20000 in a year. It is to be deducted u/s 194C.
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On 03 March 2008 at 09:59
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CA Final
814 Points Posted on 03 March 2008
TDS has to be deducted u/s 194C, if single payment exceeds Rs.20000 or cumulatively in a year exceeds Rs.50000.
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On 03 March 2008 at 11:27
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Service
1461 Points Posted on 03 March 2008
Yes TDS to be deducted if single bill is above 20000/- or total above 50000/- . on Full amount TDS to be deducted
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On 03 March 2008 at 13:09
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1638 Points Posted on 03 March 2008
Sriram, I agree with you . Thanks for correcting. Jyoti, the TDS has to be deducted even if the amount is credited in books as payable, though actual payment may be made later.
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On 03 March 2008 at 13:11
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DGM-F & A
1734 Points Posted on 03 March 2008
Depends on volume of work if single transaction is >20korcumulative 50K.94c is applicable.
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On 03 March 2008 at 15:45
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PRACTISING CA
4283 Points Posted on 03 March 2008
If the amount paid or credited exceeds Rs.20000/- for a single transactions or the total value of transactions credited or paid to a single party exceeds Rs.50000/-, TDS should be deducted u/s 194C.
9 Reply
On 03 March 2008 at 19:19
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Consultancy - I.T Recruitment
25 Points Posted on 27 March 2008

The amounts paid on Services of the similar nature would attract TDS if each bill is over and above Rs.20,000/- in single or Cumulatively Rs.50,000/- in an accounting year.

Further if no tds is deducted the amount so debited to P & L Account shall not qualify for deduction out of profits.

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On 27 March 2008 at 19:48


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