vijay (article assistant) (116 Points)
08 January 2016
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 08 January 2016
if paid to single contractor / person / entity - YES
if paid to different contractor / person / entity - NO
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 08 January 2016
Assuming the amount paid as 50k (not 5 lacs), TDS not applicable if 5 different bills (even from the same service provider) for 10k are received since the aggregate does not exceed 75k and single bill value does not exceed 30k. Hence provisions of 194C not applicable in this case.
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 08 January 2016
Agree with Poornima
If the payment that is being made to the contractor does not exceed Rs. 30,000, No TDS on payment to contractor is required to be deducted. However, if the total of all such payments made or to be made during a financial year exceeds Rs. 75,000; TDS shall be deducted under Section 194C.
Niraj Bista
(A/C)
(70 Points)
Replied 08 January 2016
bhuvanesh mohan
(ca)
(22 Points)
Replied 08 January 2016
bhuvanesh mohan
(ca)
(22 Points)
Replied 08 January 2016
CAclubindia
