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TDS for sub contractors

Rakhi Mk (11 Points)

08 January 2021

what is rate of TDS that should be deducted for the payment to sub contractors?

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Krishna Chaudhary (Accountant) (4531 Points)
Replied 08 January 2021

1% in case of individual n 2 in case of company

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Kapadia Pravin (17264 Points)
Replied 08 January 2021

1% TDS

Krishna Chaudhary (Accountant) (4531 Points)
Replied 08 January 2021

If the payment that is being made to the contractor does not exceed Rs. 30,000, No TDS on payment to contractor is required to be deducted. However, if the total of all such payments made or to be made during a financial year exceeds Rs. 75,000; TDS shall be deducted under Section 194C at the rates mentioned above.

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