Answer / dinesh

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)

Answer / rajat rastogi

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.

what is H Form

3 Answers  

---

How tax deduction at source is deducted

0 Answers  

---

What r the foll tax deductions for :- 1.TDS 2.WCT Give me answers in detail & give me some addtional info on these topics which would be helpful for me.

0 Answers  

---

Our firm is 7 years old. We don't have PT registration for partners as well as employee. If we do it now, will it be a problem or how much penalty will come. Any one can give suggestion.

1 Answers  

---

What is an entry for INCOME TAX REFUND ?

1 Answers  

---

what is excise duty

4 Answers  

---

What should be the minimum value of Invoice for which outward form 38 is required (seller haryana buyers other states)

2 Answers   ProSafe,

---

what is mean by security transaction tax? it considers how during profit calculation of shares trading.

11 Answers   Eastman Chemical, ICICI, Wipro,

---

WHAT IS THE LAST DATE FOR PAYMENT OF TAX OF EXCISE DUTY IN CASE OF ( SSI ) UNIT .

5 Answers  

---

what is perquisite? what do you mean by gratuity?

2 Answers  

---

Is sales tax payable on commodities on rental

2 Answers  

---

What is Form-I, FORM-F, FORM-H, FORM-E and FORM-C?

2 Answers   PMT Machines,

---