Tds contractor
This query is : Resolved
Querist : Anonymous
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?
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%
Rate:
Individual/HUF @1%
Others @2%.
No PAN 20%
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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