12 April 2008
a contractor is executing different works against a number of work orders whose face value or less than 20000 rs.wheter tds will be deducted by taking all works order togather or indivisual work order will be taken in consideration u/s 194c and no tax will be deducted.
12 April 2008
You are asking from the side of contractor or contractee?? Coz. if u r concern from the contractor's side then there is no matter of TDS but if a TAN holder gives many contract amount to less then 20K to a contractor and total amount payable to which is more then 50K in a Fy Yr then that TAN holder should deduct the Tax...
12 April 2008
SEC. 194 C STATES THAT RS. 20000 IS LIMIT FOR TDS ON A SINGLE PAYMENT FOR A CONTRCTOR OR RS. 50000/ LIMIT FOR A FIN. YEAR.SO IN EITHER CASE TDS LIABILITY IS ATTRACTED. R.V.RAO
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