Tds on work contract

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rakesh varadkar

rakesh varadkar (Querist)
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08 October 2015 dear sir pls help me out on which amount should i deduct tds on work contractor

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 October 2015 Deduct 1% in case of individual and 2% for others on what ever amount you make payment and liability created.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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08 October 2015 Applicable section 194C

Rate of TDS:

Individual/HUF @ 1%
Others @ 2%
No PAN @ 20%.

TDS to be deducted on crossing the threshold limit, which is:

Single Bill /Payment Rs 30000/-

Annual Total Rs 75000/-

TDS to be deducted on amount excluding service tax, if any.