Monday, March 7, 2011

Finance Act 2010 - Increase in limit for attracting TDS Sec 194C

194C-Payment to contractor for a single transaction
*upto30.06.2010-20000
*after1.7.2010-30000
Aggregate Limit has been raised from50000 to75000.
e.g.Pmt to Contractor
on 1.5.2010=15000
on 1.8.2010=25000
on 1.12.2010=30000
Pmt due on 1.3.2010=28000
Ans:No TDS upto1.12.2010 but TDS on 98000 from last pmt of 28000

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