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Tds u/s 194c

Shekha Goel (Article) (38 Points)

16 January 2017  
I have made payment to contractor in 1st quarter of amount 30000, In the next quarter my total amount paid to the contractor exceeds 100000, i have to deduct TDS on 100000 totally, but on what date shall i deduct TDS, and shall i have to quote the total amount of 100000 in 2nd quarter or i have to revise my TDS return of 1st quarter and show TDS on 30000 in that quarter??

 3 Replies

CA Aditya Lahoti (Chartered Accountant) (273 Points)
Replied 17 January 2017

Dear Shekha,

As your amount was excedding 30,000/- in Q1 itself considering it as one bill only, there itself you shold have deduceted TDS.

As you have not deduceted TDS in Q1 and deposited the same before 7 of next month it which TDS should have been deducted, you will now have to deducted TDS in Q2 and deposite the same.

There is no need to revise the return of Q1 you just need to pay interest on delayed deduction and payment.

Shekha Goel (Article) (38 Points)
Replied 17 January 2017

Dear Aditya Lahoti,

Amount exceeded 30000 in 2nd Quarter and not in 1st Quarter

Koushik D C (Proprietor/Freelancer) (938 Points)
Replied 18 January 2017

TDS needs to be deducted on the date when you made the payment of excedding Rs.1,00,000.  No need to revise the return. Quote the total amount of 1,00,000 in 2nd quarter.

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