Tds cutoff amount
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2012
Request you to clarify on TDS :-
Want to Know as how TDS has to be Deducted for 194H.(Cut off Amt Rs 5000/-)
I Have 3 transaction in a Year :
1st ----For Rs1300/-
2nd----For Rs1100/-
3rd---For Rs 2800/-
I understand that we need to deduct 10% on 2800/- as for this transaction only as it exceeds 5000 at this point.
Confirm me if i am correct.
Want to Know as how TDS has to be Deducted for 194H.(Cut off Amt Rs 5000/-)
I Have 3 transaction in a Year :
1st ----For Rs1300/-
2nd----For Rs1100/-
3rd---For Rs 2800/-
I understand that we need to deduct 10% on 2800/- as for this transaction only as it exceeds 5000 at this point.
Confirm me if i am correct.
31 July 2012
TDS need to be deducted on total of Rs 5200/- @10%.
31 July 2012
If you have paid all the commission to one single party, then TDS will be deductible on whole amount i.e. Rs.5,200/-
31 July 2012
TDS is deductible on the whole amt if the total amt paid during the year exceeds the threshold limit.
31 July 2012
agree with experts
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