07 May 2022
I am individual and I have paid Rs 30 Lakhs to packers & movers and also will be paying equivalent or higher amount in current FY. I have not deducted TDS earlier u/s 194M. But after paying 2nd instalment of the same i will excees the treshold limit of Rs 50 lakh i.e. payment to resident contractor. I will be deducting tds @ 5 % excluding GST on total amount that is 30+50 i.e. Rs 4 Lakhs and will be filing form 26QD.
Further there is also chances for more remittance. So i need more clarification regarding filing of Form 26QD.
Do i need to file form 26QD each time for all subsequent payment?
07 May 2022
The TDS deducted u/s 194M during a month must be paid by the 7th of the following month(for non-government entities) through Challan cum statement in Form 26QD. The person who deducts tax under section 194M shall furnish a certificate under Form no. 16D within 15 days of the due date of giving the challan cum statement in Form 26QD.
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