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Tds deductions
Sir,
We are accredited agency for Civil works for Govt Departments. We carry the work by engaging Technical Consultants who execute with the help of private contractors. The principal has deducted TDS @ 10% on the cent-age charge. Both my company and Technical consultant share the centage at 50:50. Do we have to deduct TDS on the centage payable to Technical Consultant? If so can we get refund of the 50% TDS deducted by the Principal.
Replies (1)
Yes, You are supposed to deduct TDS @ 10% on the payments made to Technical consultants.
Actually, you have to claim 100% TDS deducted as per your PAN. Though refund will be after deducting your tax liability.
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