TDS
This query is : Resolved
30 May 2009
I would like to know if
JOB WORK TDS DEDUCTIBLE U/S 194C
till December,08
we received bill for job work for Rs. 15000+16000+4000= 35000
we did not deduct TDS on bills totaling 35000
On 31 January, we received bill for Rs.
19000
Now total turnover exceed Rs. 50000/-
and we deduct TDS ON 54000/-(35000+19000)
Should we pay Interest on Rs. 35000
I would like to know if
JOB WORK TDS DEDUCTIBLE U/S 194C
till December,08
we received bill for job work for Rs. 15000+16000+4000= 35000
we did not deduct TDS on bills totaling 35000
On 31 January, we received bill for Rs.
19000
Now total turnover exceed Rs. 50000/-
and we deduct TDS ON 54000/-(35000+19000)
Should we pay Interest on Rs. 35000
30 May 2009
Yes, you need to pay interested on late deposit of TDS.
30 May 2009
No, the procedure followed by you is correct.
30 May 2009
No need to pay the Interest as the obligation to deducted has only been fixed when the limit has croseed 50K mark. I agree with Nitin on this.
30 May 2009
Agree with Mr. Nitin and Mr Rajesh.
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