Can we are required to deduct tds u/s 194C in this case:
First invoice value: 50,000: Yes
Second invoice value: 15,000:???
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TDS u/s 194C for Contractor
Replies (2)
Deduct on both. The relevant provision says that deduct 1% or 2% on the bill or on the payment whichever is earlier.
1. yes
2. not required unless the aggregate payments in the year exceeds 1 lakh rupees
2. not required unless the aggregate payments in the year exceeds 1 lakh rupees
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