Hello Experts,
As per Indian Income Tax law, TDS on contractor should be deducted as per following:
1. TDS should be deducted if single invoice is more that Rs.20000
or
2. TDS should be deducted if cumulative invoices exceed Rs.50000, in a year. In this case, TDS should be deducted on all earlier invoices in that year
Can we achieve this?
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Meena