TDS on contract - Please help

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Rahul

303 Points Joined May 2009

Dear Friends,

In the audit I have found that a payment has been made to a contractor (cheque) in his own name for some construction work . He has given the bill in the name of a company which is run by him. What is the TDS to be deducted ...2% or 1% ?

Please help

Replies (2)

Rahul

303 Points Joined May 2009

This is an educational institution

Guest

dear rahul

tds is required to be duducted at the rate of 2 %in case of payment to a company because the bill is produced in the name of a company. and tds amount is required to be shown in that bill. so in ur case it is 2%.

regards

tarun rustagi