12 April 2011
We are munufacturing Co. One of our deductee has provided us NIL deduction Certificate upto amount of Rs. 10 Lacs. The certificate is obtained by them from their Range officer. So, We are not deucting TDS on the amount paid to them upto Rs. 10 Lacs. Just before the year the Limit has crossed 10 lacs. Are we liable to deduct tax only on exceeded amount or full amount including the threshold limit of 10 lacs ?
CAclubindia
