WHT - Threshold Limit for 194C

[Former Member]

Hello Experts,

As per Indian Income Tax law, TDS on contractor should be deducted as per following:

1. TDS should be deducted if single invoice is more that Rs.20000

or

2. TDS should be deducted if cumulative invoices exceed Rs.50000, in a year. In this case, TDS should be deducted on all earlier invoices in that year

Can we achieve this?

--

Meena

[former_member216872]

Hi Meena ,

I want to maintain threshold limit RS 75,000 for section 194C . I have maintain min base amount RS 75000 in both WHT Type ( invoice and payment) also use accumulation functionality in both tax type. But system consider this threshold limit separately for invoice and payment.

As per my client requirement we want to define this threshold limit combined for invoice and payment type.

Example-->   Down payment   RS 30000    exist in system.

                      now I am posting Invoice RS 60000 , here system should calculate TDS on RS 90,000

But system is not calculate TDS because invoice amount is not exceed 75000.

Please help to resolve this issue.

Thanks

Rohit Singh

[former_member198650]

Hi Rohit,

Please raise a new thread and do not raise query in some one else thread.

Regards,

Mukthar

[former_member1350409]

Hi Meena

can u share the configuration for 194C