TDS on Contracts and Subcontracts

[guna ch]

Dear Sir/s

On which amount TDS should be deductable in the case of Lumpsum amount

If single payment is  Rs. 30,000/- then 29700+TDS is 300

In the case of Lumsum amount on which bill we would deduct tds

for example In April-12     Rs. 15,000/-

                           May-12     Rs.   25,000/-

                           June-12    Rs.  15,000/-

                          August-12 Rs.   10,000/-

                          Nov-12       Rs.   18,000/-

                        Total              Rs.   83,000/-

My doubt is shall i Deduct tds on Rs. 83,000/- or on last bill Nov-12 Rs. 18,000/- or  difference amount after exceeding cut off amount ,on Rs. 8,000 (83,000-75,000=8,000)

 

If I Pay TDS on 83,000/- , Shall i calculate interest for every bill up to last bill. Kindly advise me

AI Summary

TDS on contract payments: deduct when aggregate payments exceed threshold; if contract shows excess, deduct from first payment.
TDS on lump-sum contracts depends on prescribed thresholds for single and aggregate annual payments: no TDS is deducted while instalments keep the running total below the threshold, and TDS is deducted when a payment causes the aggregate to exceed the threshold; if the contract clearly shows the total will exceed the threshold, TDS must be deducted from the first payment.