Tds applicability

This query is : Resolved

rgurucharan (Querist)
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20 February 2012 Dear expert,

we are making payment to a party whom we have entered in to 6 months contract for AMC. the AMC charges are liable to deduct the TDS?

please clarify.

with regards,

R. Gurucharan.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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20 February 2012 If a single bill amounts exceeding Rs. 30000/ or in Aggregate you have to pay exceeding Rs. 75000/-during a FY, TDS liability arises.
.

G.Ramesh

G.Ramesh (Expert)
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20 February 2012 agreed with the above expert, if the party is company 2% of TDS, Indiviudal 1% of TDS applicable in NO PAN 20% of rate of TDS applicable

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