we are deducting tds for our clients under section 194C section. exemptio

Advertise your Business Here

Refer this Site

Login | Sign Up


	To Refer this Site to Your Friends Click Here

Categories >> Accounting >> Taxation

Audit Interview Questions

CompanyAffairs CS Interview Questions

Taxation Interview Questions

Accounting General Interview Questions

Accounting AllOther Interview Questions

Question

we are deducting tds for our clients under section 194C 
section. exemption under this section is Rs.20000 
suppose if a client bills more than Rs.20000, then i have 
to deduct tds only for above Rs.20000/- bills or from the 
first bill onwards.please clear me with as example

Question Submitted By :: Nithya

I also faced this Question!!

Rank

Answer Posted By

Re: we are deducting tds for our clients under section 194C section. exemption under this section is Rs.20000 suppose if a client bills more than Rs.20000, then i have to deduct tds only for above Rs.20000/- bills or from the first bill onwards.please clear me with as example

Answer
# 1

exemption means, if client bill will be less tnan Rs 20000
for a year then pls do not deduct tds. if it is more than
Rs 20000 then deduct TDS on full value. (there as such no
exemption on TDS, this limit Rs 20000 is only for whether
to deduct TDS or not)

TDS has to be deducted on full value ie do not reduce Rs
20000 from bill. if bill is Rs 25000 deduct TDS on 25000 ie
2% on 25000 & not 2% on 5000 (25000-20000)

Is This Answer Correct ?

16 Yes

2 No

Dinesh

Answer
# 2

if you paid more than 20000 to your clients in a financial
year you have to deduct tds from the first bill
onwards.suppose you have to pay the party of rs 30000 then
the tds amount will be 30000*2%= 600
you have to pay party= 30000-600= 29400.

Is This Answer Correct ?

10 Yes

0 No

Rajat Rastogi

Question	Asked @	Answers
Other Taxation Interview Questions


what is "c" form?		2
what is rate of CST on Pumps		2
what is the threshold limit on contract for financial year 2008-09	TCS	3
How to calculate the interest on housing loan for an LET OUT PROPERTY?		3
What is TDS? Post journal entry for that in books of company.		8
can anyone tell me rates of TDS for payment of contract, consultancy, advertizing, statioenry, salary, professional charges, technical fees, & honorarium for the financial year 2008-09		6
WE ARE A DEALER SUPPLIED GOODS IN 6 (2) TRANSACTION E-1 SALES TO MANUFACTURING CO. BUT MANUFACTURING CO. ASK TO US E-II FORM IT'S CORRECT OR WRONG?		1
what is service tax ? due date for pymt ? return forms ? how input credit taken ?		3
Is service tax paid on LIC premium eligible for rebate under section 80C?		2
A is a seller from Hyderabad and Bayer is also from Hyderabad. can issue the c form?	CTS	2
i am working in a construction company. my question is can we claim VAT paid on items like (i. e . Vat paid on stationery, purchase of printer catridge etc exp for official use. indirect exp.) ?		3
What can be done incase of excess payment of TDS Remittence than the actual amount? Is there any adjustment towards the excess amount with the upcoming TDS payment?		8

For more Taxation Interview Questions Click Here


Copyright Policy \| Terms of Service \| Help \| Site Map 1 \| Articles \| Site Map \| Site Map \| Contact Us \|

Copyright © 2012 ALLInterview.com. All Rights Reserved.

ALLInterview.com :: Forum9.com :: KalAajKal.com