03 July 2012
WHEN WE DEDUCTING TDS, CAN WE EXEMPT THE CEILING AMOUNT. IN CASE OF CONTRACT THE CEILING AMOUNT IS RS:30000.00, WHEN WE START DEDUCTING THE TDS FROM ABOVE RS:30000.00TH BILL SHALL WE DEDUCT THE TDS OF RS:30000.00
03 July 2012
yes, you must deduct on that 30k also for example if u got bill of 40,000 than u will deduct on full amount. you can't leave 30k for this. if u got 4 bills of 20,000 each and u didn't deduct TDS on first 3 bills as they are less than 75000 then on 4th bill u will deduct TDS on full 80,000
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