Tds on contractors

sandeepbommisetty (vijayawada) (63 Points)

28 October 2016  
In 194C Limit specified is Rs.30000 per single Transaction and aggregate payments RS.75000 During the year. For example Payments made to Party X Rs.60000/-transactions are as follows: Transaction 1: Rs.35000/- Transaction 2: RS.15000/- Transaction 3: Rs.10000/- Now I got a Doubt whether only payment exceeding Rs.30000/- is liable to deduct TDS or once if the party gets attracted to TDS, we have to Deduct TDS on transaction 2& 3 also