TDS on Contractors Bill
This query is : Resolved
05 May 2010
Hi...
I would like know what is maximum amount of any contractors bill on which TDS u/s 194 C should be deducted.
If i am not mistaken, is it annual > Rs.20000/- or agreegate bill amount < 50000/-
Please revert
Prashant
I would like know what is maximum amount of any contractors bill on which TDS u/s 194 C should be deducted.
If i am not mistaken, is it annual > Rs.20000/- or agreegate bill amount < 50000/-
Please revert
Prashant
05 May 2010
TDS applicable if :
Single Transaction > 20 K and / or
Annual Transaction > 50 K
From 01/07/2010, the limits are : 30 K and 75 K respectively.
Single Transaction > 20 K and / or
Annual Transaction > 50 K
From 01/07/2010, the limits are : 30 K and 75 K respectively.
05 May 2010
Agreed with expert's view.
If you received any single bill of amount exceeding Rs.20000/ then tds is to deducthed on that invoice, if bills are less than 20000/then we check consolidated amount for a year Rs.50000/-
If you received any single bill of amount exceeding Rs.20000/ then tds is to deducthed on that invoice, if bills are less than 20000/then we check consolidated amount for a year Rs.50000/-
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