194C

Direct Taxation

Hi, Does TDS applicable if more than one contract exists between the same contractor and contractee exceeds Rs 100000 in a financialÂ year? For Eg: Mr. A enters into two contracts with Mr. B. 1. 100000 on 20/05/2019 2. 45000 on 12/08/2019 if each payment is less than 30000, does TDS applicableÂ forÂ the FY 2019-20?

Balamurali Unnithan M S

CA Inter

★ 3K+

11-Mar-22 11:11

441

Answers (1)

Limit is applicable for entire financial year. Aggregate all the payments during the financial year from a contractor and deduct tax accordingly

Yoga Vishnu

CA Final

★ 11K+

11-Mar-22 14:31

Your Reply

Helping students crack CA, CFA & ACCA since 2017. 14,000+ students have trusted us for the best CA,CFA, ACCA online classes. Learn from the best CA, CFA faculty, access top-quality content and clear your exams with confidence

194C

Your Reply

Company

Information

Offerings