About tds
This query is : Resolved
16 November 2011
TDS is tax deducted at source, while making payment/advance to vendor, it has to be deducted at applicable rates based on threshhold prescribed the act
Generally it is applicable to salaries, rent,contracts, commission, intrest and professional fee
If TDS deductable but not deducted and TDS deducted but not paid then it a disallowable expenses as per it act
Generally it is applicable to salaries, rent,contracts, commission, intrest and professional fee
If TDS deductable but not deducted and TDS deducted but not paid then it a disallowable expenses as per it act
05 December 2011
example u/s 194C(TDS on Contractor):-
x company made contract with y for food arrangemnts and pay rs. 100000/- p.m. X co. has to deduct TDS on it @1%(if individual or HUF) and 2%(if Company), which is Rs. 2000/- in that case.
x company made contract with y for food arrangemnts and pay rs. 100000/- p.m. X co. has to deduct TDS on it @1%(if individual or HUF) and 2%(if Company), which is Rs. 2000/- in that case.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
