Tds applicablity
This query is : Resolved
Ajay Lawaniya
(Querist)
27 January 2014
If we are pvt.ltd. co and we are providing material to a contractor and issues instruction to contractor on how to work on the material.Now the contractor issues a bill of 35000 so wether tds u/s 194C will be deducted ?
AVTAR SINGH
(Expert)
27 January 2014
TDS has to be deducted u/s 194c.
27 January 2014
u/s 194C(1) is Threshold Total Payment During the Year limited upto Rs. 30,000/- only. if above Rs. 30,000/- you have to deduct TDS on Payment to Contractors @ 1% for Individual or HUF / 2% for others.
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