Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in subsequent quarters has exceeded threshold limit (as issued by the Directorate of Income Tax

Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in subsequent quarters has exceeded threshold limit (as issued by the Directorate of Income Tax – Systems) https://www.taxtmi.com/news?id=1712 Report transactions where payments to a deductee did not exceed the threshold in earlier periods using the 'Y' Threshold flag, a deduction rate of '0.0000' and tax deducted/deposited as '0.00'. The flag applies only to specified TDS section codes. When cumulative payments in a later period exceed the threshold, report the prescribed rate and the tax deducted/deposited on the total amount paid to date and do not apply the threshold flag for that period. en-us Mon, 21 Mar 2011 18:46:27 +0530 Mon, 21 Mar 2011 18:46:27 +0530 TaxTMI RSS Generator Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in subsequent quarters has exceeded threshold limit (as issued by the Directorate of Income Tax – Systems) https://www.taxtmi.com/news?id=1712 Report transactions where payments to a deductee did not exceed the threshold in earlier periods using the 'Y' Threshold flag, a deduction rate of '0.0000' and tax deducted/deposited as '0.00'. The flag applies only to specified TDS section codes. When cumulative payments in a later period exceed the threshold, report the prescribed rate and the tax deducted/deposited on the total amount paid to date and do not apply the threshold flag for that period. News - Mon, 21 Mar 2011 18:46:27 +0530 https://www.taxtmi.com/news?id=1712