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Tds u/s 194 c

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 February 2015 There are Taxi Hire charges during the year amounting to Rs.90000 which crosses 75000 limit in November 2014, none of the bills were more than 30000, but the company didnt deduct any TDS yet on any bills.

Now they are deducting TDS late on the same.

So-

1) What will be the Amount on which Tax is to be deducted? 15000 or 90000?

2)Interest will be charged on late deduction from date of bills or from date when aggregate amount exceeds 75000?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
25 February 2015 1.on rs 90,000 i.e actual whole amount

2.it will be charged from 1st bill
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Rupesh Jain

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Rupesh Jain (Expert)
25 February 2015 YOU HAVE TO DEDUCT THE TDS WHEN RS.75000/-LIMIT IS COMPLETE ON ALL AMOUNT ALREADY PAID BY YOU,
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