TDS QUERY

TDS 492 views 2 replies

swohra

none

537 Points Joined September 2007

Dear all,

If a client has already paid 49,000/- to a contractor before 01.10.2009 and now in the month of october he has to pay 5000/- to the same contractor, whether he is liable to deduct tds @ 2.06% or @ 2%.

Thanks in advance...

Replies (2)

Shyam Lal Naik

Service

6158 Points Joined March 2007

Without opining on the effective date of abolition of Education Cess from TDS, this is to state that you need to deduct TDS with out Education Cess & SHEC, if amount paid/credited, on the balance 5K.

Also please check, whether the rate should by 1% or 2%.