14 October 2011
COMPANY HAS PAID FREIGHT FOR DIFERRENT CONTRACTS ON DIFFERENT OCCASION TO THE SAME TRUCK OWNER. PAYMENTS MADE AS FOLLOWS:- ON 01.04.2011 18000/- ON 25.05.2011 18000/- ON 30.08.2011 14000/- ON 31.12.2011 18000/- ON 31.03.2012 12000/- WHEN TDS IS TO BE DEDUCTED? ON WHAT AMOUNT? TRUCK OWNER DOES NOT HAVE PAN!!
14 October 2011
Yes TDS will be deducted @ 20% (No PAN) on 31.03.2012 for the entire amount Rs.80000 as the total agregate payment crossed Rs.75000 limit.