TDS deduction
This query is : Resolved
20 January 2008
what is the limit of amt for deducting TDS on it, kindly send me the details as soon as possible, thank you
20 January 2008
IT depends on the nature of transactions. if it is contract transaction the limit is Rs.20000.If it is brokerage or agency commission it is Rs.2500/- and if it is interest other than bank interest , it is Rs.5000. All are per annum basis.
21 January 2008
(1)total aggregate of all the bills should exceed 50,000
OR
(2)Gross amount of one bill should exceed 20,000
OR
(2)Gross amount of one bill should exceed 20,000
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