TDS For Sub contractor
This query is : Resolved
Pawan Mishra
(Querist)
19 October 2009
Sir, I am working in a construction co, i want to know that if subcontractor turnover with my company is over 10,00,000 than whats the TDS rate for it.
and surchage and E.cess is applicable on it.
Whats the rate for Contractor and Sub Contractor.
and surchage and E.cess is applicable on it.
Whats the rate for Contractor and Sub Contractor.
19 October 2009
Hi,
The TDS rates for Subcontractor payments are revised w.e.f 1.10.09.
If the Subcontractor is individual/HUF the rate of TDS is 1% and for others it is @ 2%.
There is no Surcharge or Cess applicable for TDS for all non-salary payments made to any resident payee. Thus in your case you need not deduct any Surcharge or cess for resident parties whatever may be the Turnover.
Hope this clarifies
Rgds
Srinivasan
The TDS rates for Subcontractor payments are revised w.e.f 1.10.09.
If the Subcontractor is individual/HUF the rate of TDS is 1% and for others it is @ 2%.
There is no Surcharge or Cess applicable for TDS for all non-salary payments made to any resident payee. Thus in your case you need not deduct any Surcharge or cess for resident parties whatever may be the Turnover.
Hope this clarifies
Rgds
Srinivasan
Pawan Mishra
(Querist)
19 October 2009
Thanks Sir.
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