Regarding tds

This query is : Resolved

Dhanapal (Querist)
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15 December 2011 Hi sirs,

one of my client gets a bulk no. of calender from the same printing press in each year for more than rupees one lakh. But there is no contract at all between them. will it be attracted TDS on contract? if not how we accounted it as well? If i ignore it will it be found by AO?

Guest

Guest (Expert)

16 December 2011 16th December, 2011

Our expert Siddhartha Bharadwaj has already replied to this query :

Although there is no formal contract between the Company and the service provider, it is safe to deduct TDS under Section 194C if the aggregate payments during the financial year exceed Rs. 75,000/-

The TDS deducted at source will be paid into the Government Treasury quoting the PAN No. of the Assessee client along with the monthly TDS return.

FCA Prashant Chavan