TDS u/s 194-c
This query is : Resolved
30 June 2010
Can any body please let me know the exact sub-section or
explanarion or
proviso
where it is written that if payment to contractor exceeds 50000 say 51000 then on the whole amount it is TDS to be deducted.
I believe it is to be deducted only on 1000 Rs so exceeds to 50000.
Please answer me with specific explanation only. otherwise pls do not entertain this question.
explanarion or
proviso
where it is written that if payment to contractor exceeds 50000 say 51000 then on the whole amount it is TDS to be deducted.
I believe it is to be deducted only on 1000 Rs so exceeds to 50000.
Please answer me with specific explanation only. otherwise pls do not entertain this question.
30 June 2010
Go through Section 194C(1) and Section 194(5) properly. TDS is deducted on gross amount and not on amount in excess of 50,000.
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