TDS Deduction

This query is : Resolved

chandra shekhar joshi (Querist)
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16 May 2011 Dear Sir,
We received 3 bills from contractor (1)for Rs.15000/- (2) for Rs.15000/- (3) for Rs.30000/-. Kindly tell me if we will deduct TDS on all bills total or just on the bill for Rs.30000/-

Nayan Das

Nayan Das (Expert)
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16 May 2011 yes you will deduct tds this bill beacause one time of payament limit 30000/- or 75000/- full year total payment

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 May 2011 On none of the bills as threshold limit is Rs 30000/- for Single bill which is not crossed neither the total has crossed Rs 75000 p.a.

So TDS not required to be deducted.

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chandra shekhar joshi

chandra shekhar joshi (Querist)
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16 May 2011 Thanks Nayan ji and Sanjay ji, I also think neither 30000/- crossed nor 75000/-crossed. so there should not be any TDS.