TDS U/S 194C BEFORE 01/10/09

This query is : Resolved

RAKESH kumar (Querist)
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16 December 2009 SIR,

CAN U PLZ SUGGEST ME ABOUT DEDUCTING OF TDS U/S 194C FOR PAYMENT MADE TO TRANSPORTERS.
I HAVE RECEIVE BILL OF RS.5000.00 AND 10353.00 ON 01/09/09 FROM TRANSPORTERS.

SO WE HAVE NOT DEDUCTED TDS ON THAT AMOUNT.

NOW I HAVE RECEIVED BILL OF RS.36500.00 ON 25/09/09. OS I HAVE DEDUCTED TDS ON THAT AMOUNT @ 2.06%

NOW QUES IS.

WE HAVE DEUCTED TO TDS ON 5000+10353+36500 OR ONLY 36500.00 BECAUSE 36000 GREATER THAN 20000.00

PLZ REPLY....................../

M Prabhakar Menon

M Prabhakar Menon (Expert)
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16 December 2009 20,000/- is not like the exemption limit it refers to the gross amt of transactions in a year or part thereof.U should deduct TDS on the entire amount (5000+10353+36500)