TDS
This query is : Resolved
28 May 2009
can u just tell me that what is the minimum amount of Fabrication income on which TDS is detucted and from what rate?
28 May 2009
It will covered under section 194C under contractors & sub contractors. As per this section in case contract amount exceeds Rs.20K in case of single contract amount & Rs 50K for the year for all contract amount.
The rate will be for
contractors : 2% of contract amount + Surcharge @ 10% on 2%(if applicable)+ education cess 3% on (2%+10%) i.e. 2.26%
Subcontractors : 1% of contract amount + Surcharge @ 10% on 2%(if applicable)+ education cess 3% on (2%+10%) i.e. 1.133%
The rate will be for
contractors : 2% of contract amount + Surcharge @ 10% on 2%(if applicable)+ education cess 3% on (2%+10%) i.e. 2.26%
Subcontractors : 1% of contract amount + Surcharge @ 10% on 2%(if applicable)+ education cess 3% on (2%+10%) i.e. 1.133%
31 May 2009
Agree with Chetan
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