venkat (Accountant) (222 Points)
18 October 2011Respected Sirs & Madams,
I Would like to know one thing about TDS on Advertisement.If the TDS on Advt exceeds 75000 during the year, On which amount I have to deduct TDS.Suppose If the party bills during the year90000.On which amount I have to deduct TDS.Whether on 90000 or 15000(90000-75000).Please give advice.
Thanks to all
Venkat
CA VISHAL RANA,CS,B.Com,AMFI
(Chartered Accountant in Whole Time Practice)
(4354 Points)
Replied 18 October 2011
TDS SHOULD BE DEDUCTED ON 90000...THE AMOUNT WHICH IS PAID TO THE CLIENT
RAKESH
(Almost CA)
(2199 Points)
Replied 18 October 2011
if the exemption limit is crossed then on the aggregate of the bill amount u have deduct TDS so in ur case it will be on 90000/-
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 18 October 2011
on 90000....tds deducted....u\s 194 c
Satish
(CA (Final), CS (Final))
(172 Points)
Replied 19 October 2011
You have to deduct on 90,000, as per Sec 194C if the Single payment exceeds Rs 30,000 per contract or Rs 75,000/- per annum then you have to deduct the TDS at prescribed rate applicable to that party.
VIVEK ANAND T N
(COMPANY SECRETARY & CHARTERED ACCOUNTANT)
(29 Points)
Replied 20 October 2011
The tiggering point is the exemption limit, once you cross the limit it is applicable on the whole amount. Moreover, the specified amount i.e Rs. 75,000/- should not be reckoned as deduction for applying the rate on the expense.
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