28 December 2013
IF PAYMENT MADE TO SECURITY GUARD AGENCY THAN UNDER WHICH SECTION WE DEDUCT THE TDS(IF U/S 194C THAN CLEAR THE LIMIT OF 30000 & 75000)
28 December 2013
Security agency payments will be covered under 194 C. As such, single payment excess Rs 30,000/- or 75,000/- in a year, then Tds @ 2% have to be deducted.
28 December 2013
194C shall apply. With regards to limit, if any payment exceed Rs 30 thousand TDS shall apply. In case the individual invoices are less than 30 thousand but the overall payments/ or likely payments during the year exceed Rs 75 thousand, then TDS shall apply on the whole of the amount.
28 December 2013
suppose a payment of 90000 is made in a year than tds is to be deducted on amount that exceeds 75000i.e 15000 or on whole amt i.e. 90000
30 December 2013
exemption limit means that if the total payments made or likely to made during the year dont exceed the said amount, then TDS is not applicable. However, if it exceeds, then TDS is applicable on the whole of the amount.
30 December 2013
yes. in such a case, you may deduct the whole of TDS (including TDs not deducted in past) against new payment being made to the contractor.