Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2012 If single payment to contractor exceed 30,000/- (For Example Rs. 35,000/-) but the aggregate of payments during the year is below Rs. 75,000/- (Say for Example Rs. 68,000/-)then whether TDS is to be deducted on 35,000/-or Rs. 68,000/-

CA Rahul Gupta

CA Rahul Gupta (Expert)
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12 August 2012 As per sec 194C, if the single payment is made to contractor exceed Rs. 30000/- but not exceed the aggregate limit of Rs. 75000/-
then TDS has to be deducted on Rs. 35000/- only.

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2012 Can you provide some case law for the above reference.

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CA Rahul Gupta

CA Rahul Gupta (Expert)
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13 August 2012 My dear, Please read legal language of the Provision under 194C.