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Section 194c

AGNIHOTRAM RAM NARAYANA (43 Points)

01 March 2019

if I pay 28000 and 35000 should I deduct TDS under above section

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8 Replies

Pratik Surve (Assistant Professor ) (571 Points)
Replied 01 March 2019

are you paying to two different parties or only to single party

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Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 01 March 2019

deduct only on on 35000. once payment is made of more than 37000 then TDS need to be done on whole amount

Gaurav (SELF EMPLOYED) (100 Points)
Replied 01 March 2019

If both the payments are made to a single party then TDs should be deducted on both the payments otherwise deduct TDS on RS 35000.

AGNIHOTRAM RAM NARAYANA (43 Points)
Replied 01 March 2019

s to single party pls explain with relevant provisions

Gaurav (SELF EMPLOYED) (100 Points)
Replied 01 March 2019

As per the provisions of 194C if one bill payment exceeds RS 30000 or RS 100000 in a financial year from one single party then tds should be deducted. Suppose if payment of 28000 is made to Mr A and Payment of RS 35000 to Mr B then as per the provisions TDs is to be deducted only on Mr B payment since it exceeded the limit. However, if both the payments is made to Mr A then TDS on both payments to be deducted. Once TDs has been deducted then even if the billing is of RS 5000 it will be deducted for that relevant financial year.

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Dharam (CA FINAL) (164 Points)
Replied 01 March 2019

@ gaurav

agreed