hi,
I have query on TDS sec 194 H, its commission on sale of Goods. The person each transaction limit is below Rs: 5000/- .But his yearly commission exceeds the cut off. The issue is do i need to deduct TDS on basis of each trancaction or yearly one exceeds Rs:5,000/- . Guide me
For TDS on Comission 194 H , yearly limit is seen of Rs.5,000 . So if more than Rs.5,000 is paid in a year ( Sum total of all Transactions with him) , then TDS is deducted at rate of 10 %. And if suppose he is not having PAN , then at 20 %.
Thanks Abhisek
CAclubindia
