14 June 2013
Cut off limit u/s - 194C for a single payment/Bill is Rs.30,000/- and aggregate of during a financial year Rs.75,000/-
Now my question is;
I'm paid an amount of Rs.25,000/- to ABC Ltd. on April-2013. And again I paid R.28,000/- on May-2013 and Rs.29,000/- on June-2013 to the same party. Now the aggregate amount during the F.Y 2013-14 is Rs.82,000/-. So aggregate amount exceeds the limit Rs.75,000/- during the financial year. I was not deducted any TDS against previous payments. My question is, Now I liable to deduct TDS on full amount Rs.82,000/- or Balance of limit Rs.7,000/- (82000-75000)