CA Parul Saxena (CA) (8459 Points)
05 March 2013company A has a contract with Company B. Company B provides bill as follows:-
15.04.12...................................15000
15.05.12...................................16000
Total...........................................31000
aggregate limit has not crossed 75000/- and single payment limit of 30000 has not crossed. But in total the aggregate is 31000 which is over and aboe 30000 now whether to deduct TDS?If yes then why?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 05 March 2013
TDS u/s 194C is requried to be made as per following:
if single payment towards a bill exceeds Rs 30K or
if aggregrate payments against towards bills exceeds Rs. 75000.
In your case the single bill does not exceeds Rs 30K, so TDS need not be made now. However when the aggregrate bills exceeds 75K during the F.Y. then TDS needs to made on teh whole of teh bills issued till that date.
CA Shruti Gupta
(CMA FINAL CS Final)
(1434 Points)
Replied 05 March 2013
| Originally posted by : CA Parul Saxena | ||
 |
company A has a contract with Company B. Company B provides bill as follows:- 15.04.12...................................15000 15.05.12...................................16000 Total...........................................31000 aggregate limit has not crossed 75000/- and single payment limit of 30000 has not crossed. But in total the aggregate is 31000 which is over and aboe 30000 now whether to deduct TDS?If yes then why? |
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In the given case company b is not liable to deduct TDS
CA Parul Saxena
(CA)
(8459 Points)
Replied 05 March 2013
further Company B issues 2 more bills as follows:-
15.06.2012............25000
15.07.2012...........25000
Total of all the bills=15000+16000+25000+25000=81000
Upto 15.06.2012 no TDS is being levied as the total i.e.56000 is less than 75000 and the company while making payment of last bill of Rs.25000 raised on 15.07.2012 deducted TDS of Rs.8100.
Now my question is while filing TDS return of the 2nd quarter how the entry to be made in software....in the gross amount column what to write? If we enter 81000 then what date to be entered and if we write 25000 then it will not accept tds of Rs.8100
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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