TDS QUERY
This query is : Resolved
Alex Fernandes
(Querist)
09 June 2009
Hellooo
I wanted to know that I am paying to a vendor a contract to TCS an amount of Rs 3,15,000 and i had deducted TDS at the rate of 2.26 i.e (2%tax,10%surcharge,3%education cess)whether it is correct.Please suggest me as early as possible Please Only CA should answer Its a request
I wanted to know that I am paying to a vendor a contract to TCS an amount of Rs 3,15,000 and i had deducted TDS at the rate of 2.26 i.e (2%tax,10%surcharge,3%education cess)whether it is correct.Please suggest me as early as possible Please Only CA should answer Its a request
Radheyshyam Falod
(Expert)
11 June 2009
Yes TDS rate should be 2.266% of the contract value. You can also deduct TDS @ 2.06% if the contract value is less than Rs. 10,000,000 in case of company and Rs. 1,000,000 other than company for the whole year.
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