I have a small query. A Company has made a payment of Rs.20,000 to a contractor during June 2013 and TDS was not deducted on the same, as the payment did not exceed the threshold limit. Later in the same year, during December 2013, the company has paid to the same party Rs.1,00,000 and for this payment TDS was deducted. In December 2013, should TDS be deducted for Rs.1,00,000 or for Rs.1,20,000 (including the previous payment) Please state the provisions if any
31 December 2013
as per section 194c if you cross threshold limit i.e. 30000 rs. of single payment or rs. 75000 agreegate payment during the year then you have deduct tds whole amount
CAclubindia
