Tds on contract

meri ek party se contract hai. wo mujhe 4000 ke invoice ke 5  bill monthly deta hai to mein us per tds katu ya nahi

Replies (1)

Sir,

I suppose you are running a proprietory business.

Agar aap ka business ka tax audit hua hai last year, then yes you have to ded TDS u/s 194C......

because 4000*5*12=2,40,000/-

is exceeding the limit in a FY.........

Where one bill is more than 30,000/- or 75,000/- in a year, TDS has to be deducted.

 

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