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APPLICABILITY

CA Harbinder (CA ) (1245 Points)

19 March 2008

DEAR FRIENDS

I'M CONFUSED WHETHER TDS ON CONTRACT BASIS IS DEDUCTED ON AMOUNT AFTER APPLICABILITY OR ON THE WHOLE AMOUNT WHEN IT'S APPLICABLE, WHICH IS RS.20,000/-

PLS LET ME KNOW AS SOON AS POSSIBLE.

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3 Replies

CA Harbinder (CA ) (1245 Points)
Replied 19 March 2008

U CAN DEDUCT TDS ON THE WHOLE AMT. IF THE AMOUNT PAID OR PAYABLE EXCEEDS RS.20000/-P.A

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amit rustagi (ACA) (51 Points)
Replied 19 March 2008

its on whole amount

regards

M.Sriram Shenoy (CA Final) (814 Points)
Replied 19 March 2008

It should be deducted on the whole amount. The limit of Rs.20,000.00 is not the basic exemption limit provided. It is the ceiling, beyond which the entire amount attracts TDS.