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Nirmit Choraria (CA Final)     20 April 2012

Tds query?

Case:

Payment made to Contractors and subcontractors.

Suppose the billing is as follows

 

1 5-4-2012   rs 7500

2 25-4-2012 12500

3 5-5-2012 16500

4 6-8-2012 35000

Now i have to deduct tds only on last bill 35000 or all the bills.

Suppose there are no furthure transaction.

 

 

Fast reply 

Thanks

 

 

 



 18 Replies

CA Saiyum khan

CA Saiyum khan (Practicing CA)     20 April 2012

You have to deduct TDS on all the bils.

Prateek Agarwal

Prateek Agarwal (Sr. Executive - Finance & Accounts)     20 April 2012

You have to deduct on all previous bills because 1 of your payments has exceeded Rs. 30,000/-, even though the total does not exceed Rs. 75,000/-.

Giridhar S Karandikar

Giridhar S Karandikar (Team Lead)     20 April 2012

Tds shud be made on the last bill only of Rs35ooo, as the aggregrate of the paymetns made till date does not exceeds Rs78000.  If there are any more bills issued further & the aggregrate amounts exceeds 78000Rs, then TDS will be required to made on the whole payment, other than the payment of Rs 35,000.

neeraj

neeraj (CA)     20 April 2012

Sorry Giridhar sir but TDS have to be deducted on all bills

Giridhar S Karandikar

Giridhar S Karandikar (Team Lead)     20 April 2012

But the sub-section 5 talks only of any sum paid does not exceeds 30000.  And the proviso talks about the aggregrate of the sums does not exceeds 75000.

so in this case only one sum is exceeding 30000 & the aggretrate does not exceeds 75ooo, so I think TDS shud be made only on 35000 & not the whole amount.

However if the aggregrate exceeds 78000 then TDS needs to be made on the whole amounts paid/credited.


(Guest)
tds to be deducted on the whole amt
jeevan kumar

jeevan kumar (finance and accounts executive)     21 April 2012

Dear sir

 

 

TDS RATE ON  OFFICE RENT  FOR 2011-12  2012 -13

vinod

vinod (ACCOUNTS ASSISTANAT)     21 April 2012

TDS Deducted on Whole amount .I totally agree

CA PRAVEEN SINGH

CA PRAVEEN SINGH (MANAGER ACCOUNTS)     21 April 2012

MY FRIENDS...

MAXI PERSON SAID THAT TDS WILL BE DEDUCTED ON ALL BILL.WHY    ON WHAT BASIS????? 

PRINCIPLE FOR DEDUCTION TDS U/S 194C IS THAT IF SINGLE BILL IS RS 30000 OR EXCEED.

OR ANNUALLY BILL IS Rs 75000 or EXCEED.

 

AS PER YOUR QUES YOU DOES NOT CROSS Rs 75000.

ONE BILL IS RS 35000 SO THAT TDS IS TO BE DEDUCTED ONLY ON ONE BILL NOT ALL BILLS.

1 Like
CA Rakesh Goenka

CA Rakesh Goenka (CA & CS)     21 April 2012

agree with above expert
Balachander J

Balachander J (MBA., CA-final)     21 April 2012

Sum of all the bills comes to Rs 71500 which is below Rs 75000 and only one bill of these exceeds rs 30000,  Therefore TDS has to be deducted on this bill only.

Nirmit Choraria

Nirmit Choraria (CA Final)     21 April 2012

@ CA Praveen Singh Sir

 

Will your answer be same if i change the sequence of transaction like.

1)5-4-2012   rs 35000

2) 25-4-2012 12500

3) 5-5-2012 16500

 

4) 6-8-2012 7500

 

 

No furtuher transaction hen also TDS deduction only on 1st bil..??

CA Kiran Sutrave

CA Kiran Sutrave (CA)     21 April 2012

TDS on Contractor is deductible only if -

 

i. one time payment exceeds Rs. 30,000/-; or

ii. the total payment/credit made during the year exceeds Rs. 75,000/-.

 

In your case, total does not exceed Rs. 75,000/- hence TDS is payable only on bill exceeding Rs. 30,000/-.

CA Pooja Goyal

CA Pooja Goyal (In Practice)     21 April 2012

TDS to be deducted on the total amount and not on the last bill.

 


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