TDS ON CONTRACTOR

TDS 8660 views 40 replies

TDS is to be deducted on whole amount of Rs.109090/- not on the balance amount after deducting of rs.20000/-

i.e. TDS amt is rs.2247/- ( @ 2.06% on 109090/-)

Replies (40)

TDS is to be deducted on whole amount of Rs.109090/- not on the balance amount after deducting of rs.20000/-

i.e. TDS amt is rs.2247/- ( @ 2.06% on 109090/-)

sir, we are dealing in  sanitary items  and we have to purchase goods from outside state for which we have to pay freight charges to the  different transporter, now if we deduct tax what will be the section applicable and also the rate of deduction

In case the payment is being made in pursuance of a single contract then tax at source is to be deducted the moment it exceeds Rs 20000/- . On the other hand tax at source u/s 194C is deductible if payments are being made for more than one contracts and the aggregate of payments exceeds Rs 50000/- In the instant case if the payments are being made for one contract only then TDS is to be deducted on the whole amount otherwise no tax is to be deducted.

sir, we have recruited 10 data entry operator on contract basis @ 3500/- per month. we entered in to seperate contract with 10 persons. in no case payment exceeds 20000/-. but total payment to 10 persons for each month is 35000/- is section 194C applicable in this case ?

Deduction rate towards ESIC

Originally posted by :Guest
" I PLEASE SEND NECESSARY  INFORMATION ABOUT  TDS WITH SECTIONS AND RATE OF PERCENTAGE. "


 

Originally posted by :Guest
" I PLEASE SEND NECESSARY  INFORMATION ABOUT  TDS WITH SECTIONS AND RATE OF PERCENTAGE. "


 

If as per the agreement between A Govt. Board and a Contractor, "The govt board on written request from the contractor, as its own discretion shalll make the payment in part or full as may be expressly requested by the contractor,directly to subcontractor or suppliers nominated by the contractor. Such payment shall be deemed to be the payments made to the contractor." 

        So howmuch tax is to be deducted by the Govt Board while making payment to Subcontractor?

TDS is not applicable in this case.

 

Originally posted by :Guest

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sir, we have recruited 10 data entry operator on contract basis @ 3500/- per month. we entered in to seperate contract with 10 persons. in no case payment exceeds 20000/-. but total payment to 10 persons for each month is 35000/- is section 194C applicable in this case ?

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What is the penalty % of non deduction of tds on contract?

 

Please let me know the relevance of Form 15 I in case of Section 194C. Also about Form for submission of declaration about transporters to whom Nil Rate of TDS applies.


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