TDS on contract
This query is : Resolved
01 February 2011
Dear sir,
I am an individual doing part time jobs. I am not doing any business. I am constructing a building for giving the entire building on lease to school. In which I am paying amounts to labour contractor and professional fee. Whether I have to deduct TDS or not?
Ramana
I am an individual doing part time jobs. I am not doing any business. I am constructing a building for giving the entire building on lease to school. In which I am paying amounts to labour contractor and professional fee. Whether I have to deduct TDS or not?
Ramana
CA PARAS BAFNA
(Expert)
01 February 2011
You are not required to deduct TDS on any payments which are being made by you.
TDS is required to be deducted by only those Individuals whose turnover (Sales)/ gross receipts exceeds 60lacs/ 15lacs.
You need not to worry. You just concentrate upon the construction work, so that it can be completed till the next session starts. with all the best-
TDS is required to be deducted by only those Individuals whose turnover (Sales)/ gross receipts exceeds 60lacs/ 15lacs.
You need not to worry. You just concentrate upon the construction work, so that it can be completed till the next session starts. with all the best-
Ratan Sharma
(Expert)
01 February 2011
Agree with expert
Guest
Guest
(Expert)
01 February 2011
Go ahead with Mr. Bafna
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