Section 194c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2013
Is there is any Specific Limit to be excluded, AS VALUE OF MATERIAL, from Total Bill Amount before calculating TDS Amount?
04 June 2013
Sec. 194C is applicable and tax will be deductable
if single bill exceeds 30,000 or total credits to party during financial year exceeds 75000
No tds if it is not exceeds threshold limit as given above
HOW EVER IN CASE OF BILL CONSISTING CHARGES FOR WORK AND VALUE OF MATERIAL USED,
Please refer 194C subsection 3
(i) on the invoice value excluding the value of material, if such value is mentioned separately in the invoice; or
(ii) on the whole of the invoice value, if the value of material is not mentioned separately in the invoice.
if single bill exceeds 30,000 or total credits to party during financial year exceeds 75000
No tds if it is not exceeds threshold limit as given above
HOW EVER IN CASE OF BILL CONSISTING CHARGES FOR WORK AND VALUE OF MATERIAL USED,
Please refer 194C subsection 3
(i) on the invoice value excluding the value of material, if such value is mentioned separately in the invoice; or
(ii) on the whole of the invoice value, if the value of material is not mentioned separately in the invoice.
Message likes :
1 times
04 June 2013
No specific limit for that
Value of Material as separately mentioned in the bill is to be deducted from that total bill amount
Value of Material as separately mentioned in the bill is to be deducted from that total bill amount
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2013
Thank You Sir......
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