sec194c
This query is : Resolved
25 August 2010
whether u/s194c tds to be deducted on single payment exceeding rs.20,000 or single contract amount exceeding rs.20,000?
25 August 2010
If the amount paid/payable or credited/likely to be credited to the contractor/sub-contractor does not exceed Rs.30,000/- in a single instance (Applicable from 1.7.2010. previously it was Rs.20,000). However, the total of amounts paid or credited during the financial year should not exceed Rs.75,000/-. If the said amount exceeds Rs.75,000/-, then, the liability for payment arises on the whole of amount paid or credited and not on the amount in excess of Rs.75,000/-.( The limit of Rs.75,000 is applicable from 1.7.2010. Previously it was Rs.50,000)
Message likes :
1 times
25 August 2010
Thank u but here single instance means single payment or single contract amount? which one?
25 August 2010
single amount and not single contract
Message likes :
1 times
25 August 2010
Single amount means single amount paid or credited.
Message likes :
1 times
25 August 2010
Even a single contract of ...say 50000/-, but the single payment or single credit is not more than 29,999/-(w.e.f 1/7/10), then TDS will not apply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Query reg: Accounting standard, Indian Accounting Standard, IFRS, GAAP, Cost Audit, Frontend audit
- GST Refund SB005 Error
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
