I have an employe on Job work just started his job this month. The total value of his job for year ending 31March 2018 will be around Rs.84000/- which I will transfer to his account on the last day of this Month via NEFT. do I need to deduct any TDS on this payment. Otherwise Let me know the details on this matter.
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Tds on job work
Replies (5)
For TDS u/s. 194C (FY 2017-18) no TDS is deductible for contract amount below specified limits
- Amount of any single sum credited or paid doesn’t exceed Rs. 30,000
- Aggregate amount of such sums credited or paid doesn’t exceed and doesn’t likely to exceeds Rs. 100,000
So, check the individual bill amount and take call....
Sir, single first payment of my contract with vendor is very likely to be above Rs.30000/- via bank transfer, please let me know the rate of TDS applicable for my transaction which will be around Rs.80K.
Sir, single first payment of my contract with vendor is very likely to be above Rs.30000/- via bank transfer, please let me know the rate of TDS applicable for my transaction which will be around Rs.80K.
Its 1% for Resident Individuals...
Check out the Bill values... the bills are less than Rs. 30k values then no need to deduct TDS...
If any bill exceeds above Rs. 30k then You can deduct TDS on Total bill value...
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