Case Law Details
Case Name : ITO Vs Someshwar Real Estate Pvt. Ltd. (ITAT Ahmedabad)
Appeal Number : ITA No. 2474/AHD/2011
Date of Judgement/Order : 12/06/2015
Related Assessment Year :
Courts :
All ITAT ITAT Ahmedabad
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Brief of the Case
ITAT Ahmedabad has held in the case ITO v Someshwar Real Estate Pvt. Ltd. that the TDS would be deducted u/s 194C only when the amount of single contract exceeds Rs. 20,000 or the amount exceeds Rs. 50,000 in aggregate which has been given to a particular person in a year.
Facts of the Case
In the present facts of the case the Assessee made certain payment by cheques for carting of sa
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Sir,
Aggregate amount paid to a contractor exceeds 100000/- on my fourth payment (Rs.25000/-). Now the aggregate amount becomes 1,05,000/-. whether I have to deduct tds @1% on this fourth payment (Rs.25000/-) or on aggregate amount for this FY (Rs.105000/-). Please help me.
Sir,
A perusal of section 194C work exceeds or likely to exceed Rs.20,000/-. Further it was also provided that if aggregate of the payment for work to a person exceeds Rs.50,000/- during the year.
Is it 20,000/- Or 30000/- also Aggregate of the year 50,000/- or 70,000/-
Pl clarify