sir,
We have paid labour payment rs.90000/- in 6 months,(per month rs.15000) in 7th month we have paid rs.20000/- that means TDS limit rs.100000/-exceeded .now we have to pay TDS in 7th month without interest on 110000/-
or
We have to pay TDS with interest for 6th months and for 7th month without interest.
pls clarify.
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TDS Query When limit has exceeded
Replies (3)
Tax need to be deducted when amount paid exceed the maximum amount not deductible to tax.. since amount exceed from 7 month liability to deduct tax arises from there onwards.. thus tds need to be deposit from 7 month but on whole amount paid/credited till 7 month without interest..
Thank you sir
Shekhar
it's not like that.
if u are in a business it's better to pay advance tax while paying to subcontractors.
that's what has been enacted as per laws.
I do understand you pay tax then u hv to file return.
it's not like that.
if u are in a business it's better to pay advance tax while paying to subcontractors.
that's what has been enacted as per laws.
I do understand you pay tax then u hv to file return.
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