TDS under 194C on single payment exceeding Rs. 30000


Aamir (No comments)     04 April 2019

Aamir
No comments 
 21 points

| My Other Post

Whether TDS is required to be deducted if payment to contractor exceeds Rs. 30000 including gst. Eg. Contractual paymebnt 29000 + Gst 5220=34,220.

avater

Satya ND (Finance Professional)     04 April 2019

Satya ND
Finance Professional 
 28 likes  432 points

View Profile | My Other Post

Under what circumstances TDS u/s 194C is not deductible?

No tax is required to be deducted in the following cases:

a. Where the sum paid or credited in pursuance of any contract does not exceed Rs. 30,000, or b. where the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year does not exceed Rs. 1,00,000 the person responsible for paying such sums will not deduct TDS under this section c. Individual or HUF not to deduct tax if the payment or amount credited to the contractor is for personal use

i. No individual or HUF shall be liable to deduct income-tax on the sum credited or paid to the account of the contractor where such sum is credited or paid exclusively for the personal purpose of such individual or any member of HUF

ii. No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN, to the person paying or crediting such amount

avater

CA Saloni (Deputy Manager-Accounts & GST Consultant)     04 April 2019

CA Saloni
Deputy Manager-Accounts & GST Consultant 
 415 likes  4906 points

View Profile | My Other Post

Originally posted by : Aamir
Whether TDS is required to be deducted if payment to contractor exceeds Rs. 30000 including gst. Eg. Contractual paymebnt 29000 + Gst 5220=34,220.


No TDS to be deducted..

1 Like
avater

Vishesh Surana   05 April 2019

Vishesh Surana

 293 likes  4852 points

View Profile | My Other Post

no since no TDS to be deducted on GST component

1 Like

Bala (CA Practice )     05 October 2019

Bala
CA Practice  
 1 likes  63 points

View Profile | My Other Post

As the payment or amount credited  exceeds Rs.30000, the payer is under  an obligation to deduct tax at source but  only on Rs.29000 (excluding GST as per CBDT circular).


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »