05 December 2013
Hi As per section 194C, if total bill amount from a contractor in a FY more than 75000 is sublect to TDS. For ex. 1st bill May - 25000 2nd bill June - 20000 3rd bill December - 25000 4th bill Jan - 10000 so Total RS 80,000. In above first 3 bill not subject to TDS, and 4th bill subject TDS with Earlier 3 bill. Iam deducting TDS in the month of Jan after getting 4th bill.
My Query is, In Jan i have to pay TDS with interst? and I have revised earlier TDS return ?
05 December 2013
In the earlier TDS returns you were required to mention the amounts of the payee on which TDS has not been deducted by showing the reson as below threshold limit. You may do so by revising the e-tds returns . You are not required to pay the interest in Jan if you deduct TDS on all the earlier bills. .