11 October 2013
under sec-194c payment to contract limit is rs-30000/- if the contractor bill is below rs-30000.no need to deduct tds. kindly clear the concept.
11 October 2013
If the bill amount is less than Rs. 30,000 the TDS is NOT required to be deducted.
However, if the AGGREGATE of payments/bill in a year exceeds Rs. 75,000 the TDS is required to be deducted on ALL the payments/bills (even if all bills are less than Rs. 30,000)
CAclubindia
