TDS to be deducted or not
This query is : Resolved
06 August 2008
I pay a transporter 17k in April wthout knowing if i will engage the services again in the current year. Yet again i engage him and pay 19k in July, yet again 18k in September.
Till September I have paid less than 50k so i have not deducted TDS. THen in September, knowing I'll exceed 50k payt to one transporter I have to deduct TDS.
How much should i deduct , is it for the whole 54K that i have paid? and when ?
Till September I have paid less than 50k so i have not deducted TDS. THen in September, knowing I'll exceed 50k payt to one transporter I have to deduct TDS.
How much should i deduct , is it for the whole 54K that i have paid? and when ?
06 August 2008
Yes, You have to deduct for the whole 54K, and you can deduct the TDS in the next payment (i.e in september payment).
06 August 2008
Does this person think that if he will ask the same question again and again, the answer will get changed?? Boss, answer will remain the same. You have to deduct tds on full payment of 54k.
06 August 2008
thanks all, meant to post once, but due to browser problems, it posted more than once. sorry for that.
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