Tds query?

dear friend

in case the person (contractor) is one with whom u have done business(contract) in previous years and there the payment exceeded the amount of 75000 or 30000 as the case may be , in such a case u will deduct from the very beginning since u knw that payment will go beyong the limit

rest ii case ur last payment exceeds limit of 30,000 but without exceeding 75000 then tds only on the last bill

but where my friend ur last payment make the net payments total beyod 75000 then in such case tds will be deducted though only on the last bill but will include the amounts of all the prvs bills as well

hope ur query is cleared :)

agreed with rishabh....................how one should deduct tds on all bills when the limit isnt crossed

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Yes, you are rightly deducted TDS on last bill, because TDS would attract only when

Single Bill > Rs.30000/-

Aggregate Bill> Rs.75000/- to a contractor/sub..in a financial year.

So, there is no need to deduct tax on al biils as your agreegate does not exceed Rs.75000/-