21 August 2008
If a single payment to a contractor exceeds Rs. 20000/-, say Rs. 28000/- but aggregate payment does not exceed Rs. 50000/- say Rs. 45000/-. Is TDS required to be deducted on the whole sum of Rs. 45000/- or just on Rs. 28000/-???
21 August 2008
In case the amount relates to different contracts then Tax at Source is to be deducted on Rs. 28000/- only. In other case if the amount is being paid in persuance to a single contract then Tax is deductible on the whole payment of Rs. 45000.
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