Tds
This query is : Resolved
Ganesh Khocahre
(Querist)
21 September 2012
helo sir
one of my customer raise in his bill "erection of steel for Pre Engineered Building" With Service Tax 12.36%
I had deducted tds 10% against the bill under sec 194j is it correct?
the party is not agree with me he will tell me TDS shall be 2 % against U/S 194c the bill as the he providing only labour?
please tell me
one of my customer raise in his bill "erection of steel for Pre Engineered Building" With Service Tax 12.36%
I had deducted tds 10% against the bill under sec 194j is it correct?
the party is not agree with me he will tell me TDS shall be 2 % against U/S 194c the bill as the he providing only labour?
please tell me
Hemant Kumar
(Expert)
22 September 2012
TDS ON PAYMET TOWARDS LABOUR CHARGES COMES U/S 194C.
HERE, THE THRESHOLD LIMIT FOR TDS DEDUCTION IS AS FOLLOWS:-
SINGLE BILL -30000
AGGREGATE BILL -75000.
RATE OF TDS IS AS FOLLOWS :-
IF DEDUCTEE IS INDIVIDUAL / HUF, THEN TDS @ 1%.
IF DEDUCTEE IS CO. / FIRM, THEN TDS @ 2%.
IF DEDUCTEE HAS NO PAN, THEN TDS @ 20%
THEREFORE IN YOUR CASE, THERE IS A NEED TO DEDUCT TDS U/S.194C, IF THE PAYMENTS ARE ABOVE THE SPECIFIED LIMITS.
HERE, THE THRESHOLD LIMIT FOR TDS DEDUCTION IS AS FOLLOWS:-
SINGLE BILL -30000
AGGREGATE BILL -75000.
RATE OF TDS IS AS FOLLOWS :-
IF DEDUCTEE IS INDIVIDUAL / HUF, THEN TDS @ 1%.
IF DEDUCTEE IS CO. / FIRM, THEN TDS @ 2%.
IF DEDUCTEE HAS NO PAN, THEN TDS @ 20%
THEREFORE IN YOUR CASE, THERE IS A NEED TO DEDUCT TDS U/S.194C, IF THE PAYMENTS ARE ABOVE THE SPECIFIED LIMITS.
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