finance Executive
48 Points
Posted on 21 August 2010
Hi Manmohan,
Your Case belongs to Section 194 C
TDS to be deduted under some conditions: ( U/S 194C)
1. whether Contract is with Company, individual,HUF, Firm. if Comany or Firm then the TDS rate @ 2% otherwise @ 1% .
2. if you make payment more than Rs 30,000 in single Entry or Rs.75000 yearly.
Suppose you make payment like in two installment Rs.27000 & 29000. you do not need to charge TDS on the same.if you make another installment RS.25000 then you need to charge TDS because it cross over RS. 75000.
Pls find attachment for your ref...........