08 April 2016
Sir My question is : The threshold limit for payment of contactor is Rs.30000/- and for the full year it is Rs.75000/- Now suppose if the amount paid to the contractor is in pieces say Rs.20000/- X 3 times =Rs.60000/- and if now for the fourth time I have have to pay Rs.20000/- then I have to deduct tax at 1% on total amount of Rs.80000/- right ? i.e. I have to deduct rs.800/- when I pay Rs.20000/- for the fourth time in a year. now my question is while filing the data for TDS return form 26Q which amount should I feed rs.20000/- or Rs.80000/- if your answer is Rs.80000/- then as I have paid in different dates how can I show in tds return.
09 April 2016
You have to show Rs.80000/- in the TDS return, even though you paid in different dates, you can show the date when the payment crossing the threshold limit, there is no harm in that
CAclubindia
