Eg : - TDS on contracts 194 C
TDS should be paid
If agreegate payments exceed Rs. 50000 during the year
Single payments exceeds Rs. 20000.
Quest : - XYZ Limited makes payments to ABC Contractors Ltd as follows ....
December - Rs.5000 (TDS need not be deducted )
January - Rs.10000
Februrary - Rs.35000
Now they are liable to deduct TDS on Rs.35000 as well as earlier payments ...........
Whether Interest u/s 201(1A) is liable to be paid on Rs.10000 & Rs.5000 ??
If , yes substantiate your answer with legal text or case laws .... if any ...
No opinions ... I want only legal opinion
CAclubindia
