WebJun 21, 2024 · TDS can be deducted only if the total transaction with the assessee exceeds the threshold limit in the financial year. In a scenario where, credit or payment to a contractor under TDS Section 194C is below TDS threshold limit of INR 1,00,000 in aggregate in a financial year and single transaction threshold limit INR 30,000, TDS will … WebRs 30000/- Limit for TDS Deduction , 30000/- for one Payment or One month or One year , Please give clarification. Reply. June 28, 2024 at 2:57 pm ... (FREIGHT PAID BY PARTY …
Section 194C - TDS - payment made contractor, subcontractor
WebAug 19, 2016 · Related Topic: Section 194C – TDS on payment to contractor or subcontractor. As per Circular No. 715 Dated 08-08-1995, Any Payments Made to Clearing and Forwarding Agents for Carriage of Goods shall be subjected to deduction of tax at source under Section 194C. Section 194J – TDS on Fees for Professional or Technical … WebMay 14, 2024 · Please note that Rs 10,000/- is a cap just for fixing responsibility of banking company for TDS and is not an exemption limit i.e. tax is to be deducted from the whole amount of Rs 12,000/- as soon as the amount exceeds the cap amount of 10,000/- ... You presented an invoice of Rs 50,000/- and the person paying freight paid you a net … minecraft wild update memes
TDS on transport contractors - Section 194C - Sorting Tax
WebJun 15, 2024 · TDS under section 194C is not required to be deducted in following cases: The amount of payment made to the contractor in a single contract which does not exceed Rs.30,000.If the aggregate amount of such contracts in a financial year exceeds Rs.1,00,000 then TDS will be deducted. When any amount is paid to the contractor by an … WebJun 30, 2024 · Hello we have paid 35k on a single consignment adv 15k remaining balance 20k later as freight charges to a transport agency who doesn t have more than 10 … WebMay 14, 2024 · Less: Threshold Limit -50,00,000/-Amount on which TDS is to be deducted 10,00,000/-14. Whether TDS u/s 194Q is required to be deducted on the total invoice … mortuary bathtub religion