10-27-2010, 09:42 PM
The 6% is for the services exceeding Rs 10,000/ in a year
The 25,000 threshold is for supplies and the rate of tax to be withheld is 3.5%
If you believe that you will not require the services of the said company for the remaining year then do not withhold. If and when crossed 10,000 you will have to deduct for this invoice as well.
The 25,000 threshold is for supplies and the rate of tax to be withheld is 3.5%
If you believe that you will not require the services of the said company for the remaining year then do not withhold. If and when crossed 10,000 you will have to deduct for this invoice as well.