Tds

This query is : Resolved 

16 January 2012 Dear Sir / Madam,

I am working with a builders and developers. kindly let me know whether i have to deduct tds on land scaping and gardening work or not... the contract given to the contractor is for 4,00,000/-, and we have already paid 1,50,000/-.

kindly clear my doubt at earliest.

16 January 2012 Yes TDS needs to be deducted u/s 194C.

Rate:
Individual/HUF @1%
Others @ 2%.
If PAN not given 20%.

Also remember TDS needs to be deducted on date of payment or credit whichever is earlier.

16 January 2012 TDS DEDUCT U/S 194C
ONE BILL RS. 30000 OR RS.75000 IN year THEN DEDUCT TDS
HUF AND INDIVIDUAL @1%
Company,firm.Co-opSociety,Local authority @2%


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