Tds on Contrant Limit

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Pawan Patil (Querist)
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01 June 2008 Respected Sir,

I want know that Rate of TDS ON CONTRACT & its limit which we have to deducte Tds

With best regards,

Vilas Choudhari

Jayant Tathe

Jayant Tathe (Expert)
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01 June 2008
SECTION 194 - C COVERS THAT IF WE ARE REQUIED TO PAY MORE THAN RS. 20,000 IN ONE TIME THAN WE HAVE REQD TO DEDUCT TDS ON PAYMENT OR COLLECTIVE PAYMENT IS 50,000 IN A PARTICULAR YEAR THAN TDS IS REQD TO BE DEDUCT

RATES OF TDS - :

COMPANY HAVING TOTAL PAYMENT UPTO 1 CRORE / INDIVIDUAL HAVING PAYMENT UPTO 10 LAC / FIRM HAVING PAYMENT UPTO 1 CRORE - 2.06%

COMPANY HAVING TOTAL PAYMENT MORE THAN 1 CRORE / INDIVIDUAL HAVING PAYMENT MORE THAN 10 LACS / FIRM HAVING PAYMENT MORE THAN 1 CRORE - 2.266%

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