02 May 2018
Hi, According to 194C tds should be deducted when any single bill is above 30,000 or sum of payment is above 1,00,000 in a financial year. but my query is , If the payment making Rs.10,000 for every month assume.The limit for 194c doesn't exceeds upto payment of 3th month and in the 4th month payment exceeds the limit for 194C and liable to deduct tds or not.
02 May 2018
Your query is not clear Sir. Can you please elaborate?
Querist :
Anonymous
Querist :
Anonymous
(Querist)
02 May 2018
If a contractor raise two bill in a month to his supplier 1) Rs-25000/-& 2)Rs-6000/- Tds is Applicable or not. because According to 194C tds should be deducted when any single bill is above 30,000 or sum of payment is above 1,00,000 in a financial year. Please Suggest Me.
02 May 2018
If the party pays him 31,000 at single installment then he needs to deduct the TDS of 1 or 2 %. If he pays in two separate installment in two separate day then no need to deduct the TDS.