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Former Member
Oct 15, 2010 at 11:08 AM

TDS exemption Maximum limit



If a vendor has submitted Lower rate of TDS deduction exemption certificate from IT department for a sum of money, is there any way to deduct at full rate after transaction value crossing the maximum limit mentioned in exemption certificate.

For ex: If a vendor taken an exemption certificate @5% instead of standard 10%, along with stating the transaction value for the year with our company will be Rs.10 lakhs. In the middle of the year the transaction value crosses more than 10 lakhs with this vendor. Then we have to deduct @10% and not @ 5%. How to put check in our system

Please suggest

With regards