Dear Members
is there any possibilities of tax , if we make a payment to contractor of Rs 90000/- for making payment to his workers.
Laukik Shah
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Tax Liability
Replies (2)
Yes Offcourse.
its 75000 Per Year.........
TDS to be Deducted @ 1% if other than company (Contractor)
& 2% if company.
AS AND FROM 1ST OF JULY 2010 IF THE PAYMENT MADE TO A CONTRACTOR EXCEEDS Rs 75000 THEN TDS HAS TO BE DEDUCTED ON THE AMOUNT.EARLIER THE LIMIT WAS Rs 50000.
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