25 February 2011
After amendment Sec 194C threshold limit increased to Rs 30000/- per contract & 75000 p.a. My question is one contract is more than Rs 30000/ then tax deducted but next contracts in the FY doest cross the above two condition. whether balance payments need tax deduction
25 February 2011
If total contract amount in the year exceeds Rs.75000/- TDS has to be deducted on all payments.If not,TDS has to be deducted only on payment relating to the contract whose value is more than Rs.30000.
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