Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2012
If I want to pay Rs.60,000 to one party against two bills,one for purchase of material Rs.27000 and one for services provided to us agaist contract.Then whether TDS will be applicable on 60,000?
06 September 2012
Since Bill raised Separately, Only TDS Need to Deduct on 33000 Only.u/s 194C
Since On Purchase No TDS is Applicable.
Since On Purchase No TDS is Applicable.
06 September 2012
* Against the purchases worth Rs. 27000, you are not required to deduct TDS.(purchases are not covered under the chapter of TDS).
* Against the remaining amount of Rs. 33000, you are required to deduct TDS u/s 194C. (Because such amount exceeds Rs. 30000 in a single payment.)
NOTE-Transactions with the same party do not effect the above calculations.
* Against the remaining amount of Rs. 33000, you are required to deduct TDS u/s 194C. (Because such amount exceeds Rs. 30000 in a single payment.)
NOTE-Transactions with the same party do not effect the above calculations.
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