TDs

Hi Gautum,

If you are on contract basis then in this case company liable to deduct your TDS as contract basis i.e., 2.060%, but in case you rcvg salary slip in relation to your getting amount then it's treated you as on the basis of Salary.

In short, It's depend upon the company that is 'what they are consider you' - As a contrator or as a salaried person.

So, ask your company first ..!

What  is Tds explain me with Example

a person is deemed to be a contractor if he/she has some special skill to render to the other party..............

if u r kept under an employment for a limited period whiich is in the nature of a contract, then the payment shall be a salary payment - since in 8 months, the payment will amount tto only Rs. 1 lack. hence no Tax is liable to be withheld.

but if u r rendering any special skill out for which u r contracted for a llimited period, then such is a contract liable to be deducted TDS. the rate is 2.06% (2 % + edu cess 3%).

 well i agree with deepak.it totally depends on the company that what treatment is done of payments made to u