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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TDS
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TDS is to be deducted if total payment exceeds Rs.20000 in a year. It is to be deducted u/s 194C.
TDS has to be deducted u/s 194C, if single payment exceeds Rs.20000 or cumulatively in a year exceeds Rs.50000.
Yes TDS to be deducted if single bill is above 20000/- or total above 50000/- . on Full amount TDS to be deducted
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.
Depends on volume of work if single transaction is >20korcumulative 50K.94c is applicable.
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.
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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