whether TDS is deducted on internet charges(leased line)
and which section does it belong to and if it is applicable
then what is the maximum exemption limit?
Answer Posted / karthik
The TDS is not Deducted for Internet Charges. but Leased Line Charges Tds will Be deducted U/s 194C Limit Rs.30000/- per Contract or Rs.75000/-P.A.
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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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