When tds to be done by deductor..?

TDS to be deducted at the time of payment or credit whichever is earlier.

If the total yearly income is exceeding the limit specied in provision then u have to deduct TDS on whole income paid during the year.

You may refer the following link for detail knowledge.

https://en.wikipedia.org/wiki/Tax_Deducted_at_Source

ya u have to consider the total income of deductee at the time of deduction,

in case of salaries(192),194b,194bb,194ee,194f,194la

it is deducted only at the time of payment,

for salries i have to say,if the deductee income is b/w 2-5lacks we have to deduct @ 10% tds and if b/w 5-10lac 20% and i hope u understood the remaining,

if u r paying under any contract i.e, under 194c the it should be deducted @ 1 or 2% as the case may be.

thank u.

The main points regarding deduction of TDS by the deductor are as folloes:-

1. Except for TDS on salary the other payments for which tax has to be deducted is payment or credit whichever is earlier.

2. In case of 194 C [TDS on contract] 194 I [TDS on rent]  194 j [ TDS on Professional payments] TDS has to be deducted by an Individual or HUF only if his gross receipts from Business during the preceeding previous year exceeds limits as specified in Sec 44AB.

Originally posted by : Namita Bhade
	Now I have Another Question... transportation charges if we are paying.... then what are the provisions to deduct the tax.. Section 44AB previous year provision is applied to it or compulsorily we have to deduct tax..???

As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor

Still that Excemption is available(No need to dededuct the TDS)

Incase of fail to submit the PAN -TDS should deduct @ 20%