TDS
This query is : Resolved
24 March 2011
Sir/Madam,
I have received bill of Rs. 20,200/- on 20.03.2011 & another bill on 22.03.2011 for Rs. 20,000/- I have passed the JV on the same invoice day (They are in the contract) in total fY we have received total amount is Rs. 20,200+ 20,000/-
should i pay Rs.40,200/- at a time or should I deduct the TDS on Contract for paying Rs. 40,200/- at a time.
Please give me answer as early as possible
I have received bill of Rs. 20,200/- on 20.03.2011 & another bill on 22.03.2011 for Rs. 20,000/- I have passed the JV on the same invoice day (They are in the contract) in total fY we have received total amount is Rs. 20,200+ 20,000/-
should i pay Rs.40,200/- at a time or should I deduct the TDS on Contract for paying Rs. 40,200/- at a time.
Please give me answer as early as possible
24 March 2011
you donot need to deduct tds
24 March 2011
As per the Rule single payment exceeds Rs 30,000/- and aggregate payment during the year excceds Rs 75,000/- then TDS is required to be deduct TDS. In your cases, you are not fullfilling any of the above conditions and no TDS required to be deducted
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