banner_ad

TDS

This query is : Resolved 
Profile Image

Profile Image

(Querist)
15 February 2010 TDS @ 2% for individual contractor was applicable for Bills booked before 1.10.09
TDS @ 1% for individual contractor is applicable for Bills booked after 1.10.09

What if bills are booked before 1.10.09 without deducting TDS (as the limit of Rs.20000 or Rs. 50000 did not exceed),
TDS has to be deducted after 1.10.09 on the above bill amount as the above limit is crossed now?

I would like to know at what rate TDS to be deducted in the above case(1% or 2%)?

Thanks

Best Regards
Ashwini
Profile Image

kiran deshpande

Profile Image

kiran deshpande (Expert)
15 February 2010 If the bill is booked before o1/10/2009, the account of the creditor is credited by the bill amount. The instance of TDS u/s 194C is at the time of credit or payment which ever is earlier. Therefore, in this case, the applicable rate of TDS was 2 %. So even if TDS is made afterwards, the applicable rate would be 2 % only
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
15 February 2010 If the thershold limit crossed after 1.10.2009 rate will be 1% only
Profile Image

kiran deshpande

Profile Image

kiran deshpande (Expert)
16 February 2010 Yes. If the threshold limit is crossed after 01/10/2009, the applicable rate of TDS will be 1 %.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details