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Tds deduction for contractor

SUSANTA KUMAR CHATTERJEE (Assistant Accountant ) (28 Points)

29 July 2016

please send the details about Tds deduction about payment to contractor

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Kamal (Student) (31 Points)
Replied 29 July 2016

It is deducted u/s 194C if payment to contractor is either:
1. for a single bill, greater than Rs.30000; or,
2. Aggregate of payments made to contractor in a financial year exceeds Rs. 1,00,000(for A.Y. 2017-18 and onwards)

For individuals or HUF, TDS is to be deducted @ 1% and for others @ 2%

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