Tds u/s 194c applicability
This query is : Resolved
08 June 2016
I have simple query that whether I have to deduct tds u/s 194C or not in following case ;
bill of 40,000 of A ltd.- tds @ 2% deducted properly.
now bill of only Rs.2000 came for same party. and I am sure that it never exceeds 75k (or 1L).
so on last bill of Rs.2000, whether I have to deduct tds...?
.
pl clarify... I have difference of opinion from various sources..!
08 June 2016
No need to deduct TDS on Rs. 2000/-. However if party bill amounts would likely to exceed Rs. 75K, then deduct TDS on this amount.
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