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Tds contractor

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 February 2012 Bills are raised by contractor each bill below Rs. 20000. Total billing did not exceed 75000 till Dec 11. It is likely that total billing will exceed 75000 in FEB 12? How TDS 2% should be deducted? From all bills or on bills exceeding 75000?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 February 2012 TDS to be deducted u/s 194C on total amount when the threshold limit of Rs 75000/- p.a. is crossed.

Rate:
Individual/HUF @1%
Others @2%.
No PAN 20%
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
09 February 2012 TDS is required to be made on the total amount irrespective that the amount exceeds the threshold limit of Rs.75000 now.
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