tds on 150000

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Ashok J (Querist)
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13 July 2016 hi I doing a cheque payment of 150000 for a writing contract to screenplay writer how much tds should be deducted. thanks in advance

Kaushik Joshi

Kaushik Joshi (Expert)
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13 July 2016 Dear Ashok, If you are running the business in the name of individual or huf and you are not liable to audit, then you are not required to deduct tds.

Ashok J

Ashok J (Querist)
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13 July 2016 I have new pvt. limited company plz tell my how much tds should be deducted for payment from comp account.

Kaushik Joshi

Kaushik Joshi (Expert)
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13 July 2016 Dear Mr Ashok, If you've given a contract, deduct tds@1% on amount payable to individual. hence it'll be Rs 1500/-. Remaining you'll need to pay to him. the said Rs 1500/- you'll need to pay to government. you'll need his pan card copy. also you'll need tan number for your company. if you need any professional assistance relating to related work you can contact on my email ID kjoshitax@gmail.com please note related charges shall apply. for enquiries contact on above given email address.

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