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kirti singh (Querist)
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10 October 2009 Payment of Sep.09 of contractor made in 10 Oct.09 then wat rate of TDS applied whether 2.06 or 1%. assuming all contractor have PAN No.?

Same case In Case of Consultancy Charrges of Sep Paid in Oct. Then Rate will 10.3% or 10% u/s 194J?

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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10 October 2009 No question of edu. cess.

If accounted for in Sept'09(i.e entry passed on any date before 01.10.09

the rate will be 1% for Adv. Contracts or 2 % for other contracts.

If entry date and payment both in Ict'2009 then 1 % if the contractor is Individual/HUF otherwise 2 %.

If it's a transport contract then NO tax to be deducted as deductee having PAN.

kirti singh

kirti singh (Querist)
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10 October 2009 Y not replied in case of consultancy charges?

Taranjit Singh

Taranjit Singh (Expert)
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10 October 2009 same rule will be applicable as in case of 194c or 194j.

Gokul

Gokul (Expert)
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10 October 2009 Hi Kirti,

As per IT act 1962, TDS should be deducted on the dateof booking such expenses or paid advance for such expenses whichever earlier and the rules applicable on the date will be aapplicable to dedct tax at source so go throuth the rules as on the date of booking expenses or advance for such expenses and deduct TDS as applicable on that date.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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10 October 2009 I missed that, as expert Singh said, u/sec 194J for consultancy fees rate is 10% for the entire financial year 2009-10.

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