Tds u/s 194c

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neeraj (Querist)
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26 April 2012 Whether TDS will be deducted U/s 194C if there is only a single transaction of Rs.50,000 in a year and condition of 75000 not satisfied.In Act what is written "AND or OR"? I think TDS will be deducted what's ur opinion ?

Ki$hor B

Ki$hor B (Expert)
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26 April 2012 Need to interpret as
30000 by a single payment transaction
OR
total of payments made till date exceed Rs75000
then TDS is to be deducted at 1% (Individual/HUF) or 2% (others)

In your case, TDS has to be deducted as the
amount paid exceeds 30K.