I intend to know what is the liablity of the Company paying
commission to an individual under section 194H relating
Payment for Commission in terms of obtaining PAN no from
the individual? What is the maximum amount of commission up
to which the same could be relaxed or it is not mandatory.
Answer / manish.panchal
For Current F.Y Limit is 30000.00 p.a.
If Individual is not Having PAN NO. then TDS to be deducted @
20.00% other wise 10.00% once Individual cross 30k.
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THERE IS EXCESS TDS REMITTED UNDER SECTION 194 H IN EACH MONTH STARTING FROM APRIL 2011 TO DECEMBER 2011.THIS IS DISCOVERED IN JANUARY 2012. THE QUARTERLY RETURN IS YET TO BE FILED. HOW TO TAKE EXCESS CREDIT IN FILING QUARTERLY RETURNS ? WHETHER EXCESS TDS CAN BE ADJUSTED AGAINST REMITTANCE OF TDS FOR JANUARY 2012 (UNDER 194 H ONLY)AND THE BALANCE ONLY CAN BE REMITTED? IF SO, HOW TO GIVE THE CHALLAN REFERENCES IN THE RETURN?
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DEFINATION OF LABOUR ACT?