DIPAK AGARWAL (Service) (554 Points)
08 August 2009we are paying rs.3900 per month to a single party for security services. annually it comes to rs.46800.
as per rule we know if a single payment is not going beyond rs.20,000 & also annual payment does not cross rs.50,000 then no tds requied to be deducted?
my question is that am i right or any other provision under which the same are to be deducted?
Ashish Dug..
(CA (FINAL))
(619 Points)
Replied 08 August 2009
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Section
194C (1)
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TYPE
Payment to contractor for carrying out any work (including supply of labour) in pursuance of a contract with such contractor.
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PAYEE
Resident Contractor
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RULE
· upto Rs.20000/- (for an individual contract)
· Aggregate upto Rs.50000/- for each payee.
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RATE
1.Where the payee is –
· A company – 2%
· Other person – 1%
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So as per the rule you are not required to deduct TDS.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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