TDS

TDS 564 views 2 replies

Hi,

Please let me know that wef from 1st Oct 2009 is there any changes in TDS rates  for payments to be paid to contractors which provide transport ( cars, buses) to the employees of the company ..

Replies (2)

On Transporter there is no TDS Detailed list is given below

NEW TDS RATES FROM 01.10.2009
Particulars NEW TDS RATES% IF DEDUCTEE IS
Section Nature of Payment CUT OFF AMOUNT INDIVIDUAL and HUF OTHER
194A Interest from a Banking Company Rs. 10,000/- p.a 10.00 20.00
194A Interest other than from a Banking Co. Rs. 5,000/- p.a 10.00 20.00
194C Payment to sub-contrctor/Advertisement contracts Rs.20,000/- per contract or Rs. 50,000/- p.a 1.00 2.00
194C other Contractors Rs.20,000/- per contract or Rs. 50,000/- p.a 1.00 2.00
194C transport contractors engaged in the business of plying, hiring or leasing goods carriages. Nil *
194H Commission or Brokerage Rs. 2,500/- p.a 10.00
194I Rent other than Plant, Mach.& Eqp. Rs. 1,20,000/- p.a 10.00
194I Rent of Plant , Machinery & Equipments Rs. 1,20,000/- p.a 2.00
194J Professional Charges Rs.20,000/-p.a 10.00
* The nil rate will be applicable if the transporter quotes his PAN. If PAN is not quoted the rate will be 1% for an individual/ HUF transporter and 2% for other transporters upto 31.3.2010
** The rate of TDS will be 20 per cent in all cases, if PAN is not quoted by the deductee w.e.f. 1.04.2010
***No surcharge and cess on tax deducted on non-salary payments made to resident taxpayers.

 

Hi.

In refererence to A. Y. 09-10, can anyone let me know that the TDS credit to be taken by an assessee, has to be taken on receipt basis, or on accrual basis. If the amount of commission has not been received by the assessee, then can we take credit of the TDS.

 

 


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