CA Jai Gulia - Taxation
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Ex- Unacademy Educator with 5+ years in Direct Tax. WWW.Jaigulia.Com
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Correct Ans. is
In this case, the individual contract payments made to Mr. X does not exceed ₹ 30,000. However,
since the aggregate amount paid to Mr. X during the P.Y. 2024-25 exceeds ₹ 1,00,000 (on account
of the last payment of ₹ 30,000, due on 1.3.2025, taking the total from ₹ 73,000 to ₹ 1,03,000), the
TDS provisions under section 194C would get attracted. Tax has to be deducted@1% on the entire
amount of ₹ 1,03,000 from the last payment of ₹ 30,000 and the balance of ₹ 28,970 (i.e., ₹ 30,000
– ₹ 1,030) has to be paid to Mr. X.
Gulia Ltd. makes the following payments to Mr. X, a contractor, for contract work during the
P.Y.2024-25–
₹ 20,000 on 1.5.2024
₹ 25,000 on 1.8.2024
₹ 28,000 on 1.12.2024
On 1.3.2025, a payment of ₹ 30,000 is due to Mr. X on account of a contract work.
Discuss whether Gulia Ltd. is liable to deduct tax at source under section 194C from payments made
to Mr. X.
