Tds

This query is : Resolved

SACHIN (Querist)
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09 August 2011 As per IT rule TDS on contract for individual 1%
XYZ is a road contractor & total quotation Rupees above 10 Lakh then which percent we have to deduct the TDS 1% or 2%?

CA Navin Jain

CA Navin Jain (Expert)
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09 August 2011 if xyz is a individual or proprietor then deduct the tds @ 1%

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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09 August 2011 Rate of TDS

Payment for a contract is to be made to individual/HUF – 1%
Payment for a contract is to be made to Other than individual/HUF - 2% (C