TDS on Works contract Tax

This query is : Resolved

yogesh vijaykumar shah (Querist)
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22 June 2010 I would like to know the rate of TDS on Works contract Tax. Also tell me what is the amount limits? Earlier this limit was RA. 2 lacs. Also what is the sention under which this limits are specified?

hshivakumar

hshivakumar (Expert)
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22 June 2010 TDS for work contract u/s 194 C if payee is individual and HUF then 1% otherwise 2%. and limit is if exceeding Rs 20,000/- each bill or R. 50,000/- pa. upto June 30, 2010 and from 1st July onwards if each bill exceedings Rs. 30,000/- or Rs. 75,000/- pa,

Shyam Lal Naik

Shyam Lal Naik (Expert)
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23 June 2010 I think the query is related to deduction of TDS under VAT laws and not under Income Tax. The law framed by the respective state/UT shall apply.

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