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TDS Exemption

This query is : Resolved 
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(Querist)
08 March 2010 Dear all

If contractor has not pan no. tds rate 1% / 2% .(20% from 01.04.10)
is it exempt for 20000 or 50000 ?

Please explain

Thanks & Regards
Jiwan Singh
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
08 March 2010 Rate can be applied only when a transaction is within the purview of TDS Provisions.

As such, in my view, exemption is available.

The threshhold has been proposed to be enhanced to 30K & 70K in the union budget.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 March 2010 YES. IF THRESHOLD LIMIT DOES NOT EXCEED YOU ARE NOT REQUIRED TO DEDUCT TDS WHETHER THAY HAVE PAN NO OR NOT.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
23 June 2010 agree
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
23 June 2010 IT IS A QUERY OF 8TH MARCH AND YOU ARE AGREEING ON 23RD OF JUNE. QUITE STRANGE.
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