05 March 2013
TDS in respect of Contractors/Subcontractors under 194C to be deducted If sum exceeds Rs. 30,000 or Rs. 75,000 in aggregate in a financial year. Does TDS has to pay along with interest considering for previous billing (sum of 75,000)
05 March 2013
i have some doubt in your Q which I understand, you got some bills which are below 30000, now at year end total is more than 75000 so when total invoice exceed 75000 then only TDS liability will arise you need to deduct TDS on full amount i.e. 75000 and pay that time. no interest on previous invoices. because that time TDS liability was not arised
CAclubindia
