Ideas

TDS Deduction in 194C Section on Transactional & Yearly basis criteria

 

Bellow mentioned is the criteria for TDS deduction in 194 C which can not be handled in GINESYS. 

If the payment that is being made to contractor does not exceed Rs. 30,000.00, No TDS on payment to contractor is required to be deducted. However, if the total of all such payments made or to be made during financial year exceeds Rs. 1,00,000.00 then TDS shall be deducted as per applicable rates.

The above point is explained in more details on bellow given link.

http://www.charteredclub.com/section-194c/

  • Amit Dharmadhikari
  • Aug 9 2016
  • Likely to implement
  • Attach files
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