TDS On Contractor

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2011 As Per Rules tds deduct on contractor service @ 2%. if single contract is 30000/- or 75000/- PA...but a contractor whole year Contrat is only Rs. 48000/- but amount 40000/-Paid on single day (By cheque) on against of 4 bills (each bills of 10000/-)....than should be tds deduct or not...please suggest....

sudhakar ca cwa

sudhakar ca cwa (Expert)
Follow

23 March 2011 Not Required.

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
Follow

23 March 2011 Since Single payment doesnot excceds Rs 30,000/- and the aggregate payment during the year doesnot exceeds Rs 75,000/- TDS need not to be deducted.

I hope The Rate for HUF and Individual it is 1 % instead of 2% and for others it will be 2%

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok