I want to ask is I got a Liability to deduct TDS when :
I had mad a payment of Contract to 4 different parties Rs.20000/- so the aggregate amount of payment reaches to 80,000/- which is more than 75,000 but to different parties .. Whether I have to deduct TDS?
27 January 2014
No. Deduction is partywise. If single payment made to a party exceeding Rs.30,000 or all payments taken together in a financial year to one party exceed Rs.75,000, then you are liable to deduct TDS u/s 194C.
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