28 December 2021
Dear Sir, We are taking continous services of a transporter(Proprietory Firm) for dispatch of our goods, I just want to know that whether and when the TDS liablity will arise, Details are as below: We have taken a total of Rs. 77,000 of bilties from the transporter in serval days in this Financial Year and One Bilty is of Rs. 38500/- on which we have deduct and deposit the TDS but after that all bilties are in the range of Rs. 2000 to 3000/-, I want to know whether the TDS will attract on those bilties too (which was raised on us after the bilty date of 38500/-) as i have deducted the TDS on One bilty which was over Rs. 30,000/- Kindly assist me asap.
28 December 2021
Sir, When after he rasied Bilty of Rs. 38500/- we should Deduct the TDS or what But sir in this FY till now his overall bilties raised amount does not cross the celing limit of Rs. 100,000/- and we have deduct the TDS on 38500/- amt bilty as well.
28 December 2021
The limit for deduction is either of two, once you have deducted TDS over Rs. 38500/-, the other limit of 1 lakh does not apply. You need to deduct TDS over each & every payment after that.
CAclubindia
