A is raise a bill to B of amt. 25000/
At the time of payment B will be deduct the TDS from which
rate.This bill raised first time to B By A.
Trilok Sharma
(Vigneshwara Developers)
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Answer Posted / manoharnsr
For deduction of TDS 3 things are very important.
1. Nature of transaction
2. Nature of Service
3. Amount paid or payable.
There is no TDS on transactions involving purchase of goods
or assets.
The rate of TDS depends on the nature of service bought.
There is seperate cieling limit for each type of service.
for example in the case of professional services the limit
is Rs 20000 and for contractors it is Rs 50000.
In the present case assuming A is service provider, therate
of TDS depends on the nature of service and ofcourse if it
exceeds the cieling.
The frequency of transactions or the quantum of
transactions are irrelevant for the purpose of TDS.
Further TDS has to be made upon the earlier of payment or
credit and should be deposited with the authorities
subsequently with the time limits.
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