tds on contractor
This query is : Resolved
18 October 2010
in py09-10 total amc charges paid to a contractor was. rs.60000
however in 10-11 upto septmeber rs.20000 has been paid.
is tds deductible in 10-11 on such payment.
urgently waiting for ur reply.
however in 10-11 upto septmeber rs.20000 has been paid.
is tds deductible in 10-11 on such payment.
urgently waiting for ur reply.
18 October 2010
No TDS deduction is not required as of now.
Exemption limit u/s 194C with effect from 01.07.2010 is--
Rs 30000/- Single Payment
Rs 75000/- Annual Payment.
Exemption limit u/s 194C with effect from 01.07.2010 is--
Rs 30000/- Single Payment
Rs 75000/- Annual Payment.
18 October 2010
Agreed, if the amounts do not cross the specified limits in a FY, if exceed then deduct the TDS on entire amount.
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