07 January 2016
Hi all 1.During the F.Y 2014-15 the expenses u/s 194 J crossed the threshold limit, i deducted the tds. 2.During the F.Y. 15-16 there is only a single transaction of amount 10500/- am i liable to deduct tds on 10350/- ????????? for the same party Regards preet
07 January 2016
are you sure because as per my information once you start deducting tds you should deduct it on a single transaction alos whether its crossing the limit or not. kindly confirm
07 January 2016
Dear I am very much sure. if the transactions are in single FY then only you deduct TDS once you cross the limit. In every financial year the threshold limit is considered for that FY only.
08 October 2021
If you are anticipating more transactions with the same party in the current year, so that the total payment may exceed the limit, in that case you may start deducting TDS from the first bill itself.
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