If any company organises a meeting of its emplyees in a hotel & pays Rs. 25,000.00 for it. Than my question is whether the company should deduct TDS on the payment made to the hotel.
4 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 05 April 2011
ITS BETTER TO DEDUCT TDS AND ISSUE A FORM 16A TO THE DEDUCTEE.
REGARDS,
DEVENDRA
Shriram Ramachandran
(IPCC Student CWA Inter & Processing officer in GNSA Infotech Ltd)
(492 Points)
Replied 05 April 2011
Dear Sir
As the Amount u have stated is below the Specified amount of Rs 35000 in law & assuming no other payment was made Or due from the company side.
So on above sitution U no need to Deduct TDS.
If u pay Aggregate amount exceeding Rs. 35000 then is is better to Deduct TDS of 1% for individual & 2% for Company or Firm
Thanks I hope this info helped u
R Shriram
Devendra
(Chartered Accountant)
(4775 Points)
Replied 05 April 2011
I don't agree with Shriram Ramamchandran.
1) TDS u/s 194C is to be dedcuted on single bill of Rs. 20000 and above. (Before 01.07.10)
2) TDS u/s 194C is to be dedcuted on single bill of Rs. 30000 and above. (After 01.07.10)
3) TDS u/s 194C is to be deducted on aggregate bill of Rs. 50000 and above (Before 01.07.10)
4) TDS u/s 194C is to be deducted on aggregate bill of Rs. 75000 and above (After 01.07.10)
Rate of TDS
Individual, HUF - 1%
Other than Individua - 2 %
Regards,
Devendra
Shriram Ramachandran
(IPCC Student CWA Inter & Processing officer in GNSA Infotech Ltd)
(492 Points)
Replied 05 April 2011
I am Sorry. Thanks for correcting me.
Thanks
R shriram
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