Tds under 194c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2012
If a bill amount is for ex.RS 25000 and another bill amount is Rs.26000 and aggregate payment made is 51000 in total so whether tds should be deducted or not under Section 194C?
CA Prashant Gupta
(Expert)
14 July 2012
first of all your detail is not clear to decide whether it is 194 C or not.
but as you asked so I assume transaction is under 194C. then it is clear that one transaction must be above 30,000 or total payment 75,000/- in a year. So in your case no bill is above 30,000/- and total is not above 75,000/- So No TDS u/s 194C
but as you asked so I assume transaction is under 194C. then it is clear that one transaction must be above 30,000 or total payment 75,000/- in a year. So in your case no bill is above 30,000/- and total is not above 75,000/- So No TDS u/s 194C
CA PRAVEEN SINGH
(Expert)
14 July 2012
FOR ONE BILL AMOUNT EXCEEDING Rs 30000 FOR TDS DEDUCTION.
BUT CHECK YOUR ANNUAL LIMIT FOR TDS.
BUT CHECK YOUR ANNUAL LIMIT FOR TDS.
CA PRAVEEN SINGH
(Expert)
14 July 2012
Right said by Prashant ji..
CA Rahul Gupta
(Expert)
14 July 2012
TDS will not be deducted u/s 194C since Bill amount does not exceed Rs. 30000/-or in aggregate exceed Rs.75000/- in your case.
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