hi,
I have query on TDS sec 194 H, its commission on sale of Goods. The person each transaction limit is below Rs: 5000/- .But his yearly commission exceeds the cut off. The issue is do i need to deduct TDS on basis of each trancaction or yearly one exceeds Rs:5,000/- . Guide me
For TDS on Comission 194 H , yearly limit is seen of Rs.5,000 . So if more than Rs.5,000 is paid in a year ( Sum total of all Transactions with him) , then TDS is deducted at rate of 10 %. And if suppose he is not having PAN , then at 20 %.
Thanks Abhisek
AJAY SINGH AND CO LLP
Thane
CA Final
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S.B.G. & CO. CHARTERED ACCOUNTANTS
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CA Inter
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Malhotra Rajesh & Associates
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B.Com
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CCI
Pro
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