Government aided school give a contract to contractor for construction of building.
Bill raised by contractor had paid by school but some of the bill still due
But Tds had not deducted by school.
What will be the solution of this problem ?
Menu
Tds
Replies (2)
Dear Gautam,
Deduction of Tax is responsibility of the person making payment (in present case it is the school), hence payee (the contractor) need not to worry about non deduction of tax.
And for bills pending, he (contactor) can ask the concerned persons in school for the bills due.
Dear Gautam,
If the total amount paid by the school to contractor is more than 75000/- in a year then TDS is required to be deducted as per section 194C.
School can deduct the whole amount from later bills in full if not deducted before.
Be sure about the rate as ( individual - 1% and others 2%)
Regards
Recent Topic
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
Related Topics
CAclubindia
