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tds on printing

abhishek (Internal Auditor) (181 Points)

05 June 2010

is tds is required to deduct on bill of invoice printing above 30000/- for accounting year 2010-11 ?

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VIPIN KUMAR (Practicing) (309 Points)
Replied 05 June 2010

No tds shall be deducted if total amount payable during the entire P.Y. is upto 50000 but if one time amount payable exceed Rs. 20000 then TDS shall be deducted on tht payment. TDS will be deduct as contractor for the accounting year 2010-11. If contractor is individual or HUF then tax will be deduct @ 1% and if other then @ 2%.....

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ramajayam (ARTILCE) (144 Points)
Replied 05 June 2010

mr vipin if the printer gives a vat invoice for any amt then tds will not apply

please verify and tell me

M.M.SURANA (Director -Taxation ) (532 Points)
Replied 05 June 2010

Dear friends

TDS limit u/s 194C has been increased from 01.07.2010 to 30,000/ for single contact and Rs. 75,000/- agregate in the year. Pl correct if I wrong

VIPIN KUMAR (Practicing) (309 Points)
Replied 05 June 2010

I didn't hear till now amendment like that in particular section.

CA Parag Shukla (Practicing Chartered Accountant) (153 Points)
Replied 05 June 2010

Yes, TDS Limit has been increased u/s 194C from Rs.20000 (50000 in a year) to Rs.30000 (75000 in a year)......... So TDS should be deducted from Bill of Invoice printing accordingly......

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CA Parag Shukla (Practicing Chartered Accountant) (153 Points)
Replied 05 June 2010

The above Ammendment - w.e.f. 01.07.2010

abhishek (Internal Auditor) (181 Points)
Replied 07 June 2010

supplier has given vat invoice. is vat invoice effects deduction of t.d.s. ?

ramajayam (ARTILCE) (144 Points)
Replied 07 June 2010

no abishek

abhishek (Internal Auditor) (181 Points)
Replied 07 June 2010

thanks sir

abhishek (Internal Auditor) (181 Points)
Replied 07 June 2010

please give answer of my question on top of this discussion whether tds is required to deduct or not?

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Shudhanshu Agrawal (Business) (2570 Points)
Replied 07 June 2010

Originally posted by : VIPIN KUMAR
	I didn't hear till now amendment like that in particular section.

Ammendment mentioned by Mr. Parag is correct. This ammendment has been brought by Finance Act, 2010. There are many other section of TDS as well where the limits of TDS deduction has been enhanced by the Finance Act, 2010.

Shudhanshu Agrawal (Business) (2570 Points)
Replied 07 June 2010

Originally posted by : abhishek
	is tds is required to deduct on bill of invoice printing above 30000/- for accounting year 2010-11 ?

As per Section 194C TDS will be levied under this section for carrying out any work (including supply of labour for carrying out any work). Here in the above case if you are in contract with the party for printing work then TDS will be applicable. However if this bill is for payment of sale of goods then Section 194C will not be applicable.