Tax Deducted at Source
This query is : Resolved
15 December 2008
A proprietor gets work done from outside and for different jobs makes payment to different persons. Will the payments be liable to TDS and if so at what rate and will come under which category?
Some of the payees are not having PAN. Will the prop. be able to deduct tax at source?
Some of the payees are not having PAN. Will the prop. be able to deduct tax at source?
15 December 2008
If the proprietor is a contractor then he is sub-contracting the work. If he is not a contractor then he is job worker will be treated as contractor. This is covered by section 194C. TDS rates are as below
- For Contractor - 2%(+SC+EC+SHEC)
- For Sub-Contractor - 1%(+SC+EC+SHEC)
You cannot deduct TDS if the payees are not having PAN. You need to impress them to apply for PAN. Because it is your liability to deduct TDS not them. Your expenditure will be disallowed.
- For Contractor - 2%(+SC+EC+SHEC)
- For Sub-Contractor - 1%(+SC+EC+SHEC)
You cannot deduct TDS if the payees are not having PAN. You need to impress them to apply for PAN. Because it is your liability to deduct TDS not them. Your expenditure will be disallowed.
15 December 2008
Further if your turn over not exceeding 40L (i.e not come under 44AB (tax audit) need not deduct TDS.
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
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- Value of property in capital gain
- Copyright software
- Multiple trade mark
- Transporter Declaration form
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding TDS Applicability For Director Remuneration
- Filing of MSME 1 form by companies
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
