tds on security
This query is : Resolved
04 January 2010
R/sir,
i have received on security bill of Rs.15786.00 only sir, pan number not available so as per new tds rate for f-year 2009-10 how much tds deduct from this bill & when total bill amt over s50000.00
i have received on security bill of Rs.15786.00 only sir, pan number not available so as per new tds rate for f-year 2009-10 how much tds deduct from this bill & when total bill amt over s50000.00
Bimal Thacker
(Expert)
04 January 2010
Under section 194C you are require to deduct TDS. you should deduct TDS depending upon the period of payment or accounting of bill,if it is before 30.9.2009 TDS 2% plus 2+1% ed. cess/ h.Ed. Cess will be applicable. If it is for period after 30.9.2009 and security contractor is Individual or HUF then 1% deduction of tax is required in other case 2% of TDS.
From FY 1.4.2010 if PAN not received then 20% TDS is to be deducted.
From FY 1.4.2010 if PAN not received then 20% TDS is to be deducted.
CMA Ramesh Krishnan
(Expert)
06 January 2010
1 % for Individual & HUF & 2 % for others
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