DEAR SIR,
I HAD MADE SEVERAL PAYMENTS TO A CONTRACTOR TILL FEBRUARY'12 TOTATL RS. 60,000/-, NONE OF THESES PAYMENTS EXCEEDED RS. 30,000/-, SO I DID NOT DEDUCT TDS.
BUT DURING THE MONTH OF MARCH'12, I MADE APAYMENT OF RS. 20,000/-, SO THE TOTAL PAYMENTS CROSSED THE LIMIT OF RS. 75,000/-, MY QUEST, ON WHAT WHAT AMOUNT DO I NEED TO DEDUCT TDS:
(A) RS. 5,000/- BY WHICH THE TOTAL PAYAMENTS CROSSED THE LIMIT OF RS. 75,000/-
(B) ON RS. 80,000/- TOTAL AMOUNT PAID DURING THE YEAR.
(C) DO I NEED TO PAY INTEREST ON TDS FOR THE AMOUNTS PAID PRIOR TO MARCH'2012, AS I HAD NOT DEDUCTED TDS ON THOSE AMOUNTS EARLIER.
KINDLY REVERT BACK.
THANKS,
LALIT DHABRIA
CAclubindia
