TDS ON CONTRACTUAL WORK
Rajkiran Ghosh (479 Points)
03 June 2018
sir when rs 30000 will be applicable for tds deduction in contractual work???plz reply me
Rajkiran Ghosh (479 Points)
03 June 2018
Rahul Prajapati
(Student)
(2282 Points)
Replied 03 June 2018
If payment to Contractor exceeds Rs. 30000 in a single Invoice
Rajkiran Ghosh
(479 Points)
Replied 03 June 2018
Rahul Prajapati
(Student)
(2282 Points)
Replied 04 June 2018
As you said you made first payment of a sum equal to 40000, which is more than 30000.
Hence Sec 194C become applicable to you.
Deduct TDS on 40000 when you make payment of same.
After this you made payment of 20000. Also, deduct TDS on 20000.
At the time of making first payment you become liable to deduct TDS, so Deduct TDS on each payment.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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