Tds on contractor / sub contractor
This query is : Resolved
07 June 2014
We have a contractor who is a proprietor of a co. name xyz. How much % TDS we should deduct while making the payment??? (1% OR 2%)
07 June 2014
r/sir
tds rate will applicable as status of payee not the payer.
if you pay the amount to company/ partnership firm the tds @ 2% and for individual and HUF rate will 1% u/s 194C.
if you pay exceed single bill of rs. 30000/- and in year Rs. 75000/-
tds rate will applicable as status of payee not the payer.
if you pay the amount to company/ partnership firm the tds @ 2% and for individual and HUF rate will 1% u/s 194C.
if you pay exceed single bill of rs. 30000/- and in year Rs. 75000/-
07 June 2014
you need to deduct 1%.......
07 June 2014
as per sec 194C u need to deduct 1 %
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Relief u/s Section 89
- REGARDING SECTION 44AE
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
