Tds deduction related

15 March 2019
Dear Experts,

I am into the business of bus transport. I am having direct contract with a company and providing the bus services to their staff. For this I am also having some sub contractors with me whom I am paying after getting the payment from the company. Please suggest do I need to deduct TDS on those payments. If yes, then what is the rate of TDS and threshold limit.

Thanx in Advance

CA Mohit Bansal (Expert)
15 March 2019
Yes you are liable to deduct TDS @1% on payment to sub contractors and should deposit taxes and file TDS return within due dates

RAJA P M (Expert)

Click to Talk 15 March 2019
What is Your Turn Over...? Is Your PY account is audited...?

Akash (Querist)
18 March 2019
No, Raja sir Previous year accounts were not liable for audit as the turnover was only 18 LAC

RAJA P M (Expert)

Click to Talk 18 March 2019
No need to deduct TDS..
Also check out the subcontractor's vehicle details...

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