Deduction of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2011
What is the minimum amount for deducting TDS on Freight
08 October 2011
No deduction shall be made from the amount of any sum credited or paid or likely to be credited or paid to the account of, or to, the contractor, if such sum does not exceed thirty thousand rupees :
Provided that where the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year exceeds seventy-five thousand rupees, the person responsible for paying such sums referred to in sub-section (1) shall be liable to deduct income-tax under this section.
Hope this clarifies the matter.
Regards
Provided that where the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year exceeds seventy-five thousand rupees, the person responsible for paying such sums referred to in sub-section (1) shall be liable to deduct income-tax under this section.
Hope this clarifies the matter.
Regards
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2011
thanks, can we pay Rs. Thirty Thousand in one Single payment
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