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TDS u/s. 194C deductible when contract amount exceeds thrash hold limit
Case Law Details
- Case Name
- ITO Vs Someshwar Real Estate Pvt. Ltd. (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- 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 sand in nature of contract for labour. According, to AO the TDS was not deducted from the above payments. The assessee submitted that the amount were credited on different dates a...
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