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Whate is rate of tds on payment to sub-contractor - individu

TDS / TCS 5324 views 12 replies

WHAT IS THE RATE OF TDS ON PAYMENT TO SUB-CONTRACTOR- INDIVIDUAL AND RESIDENT U/S 194C  FOR  FINANCIAL YEAR 2011-2012,  IF RATE IS  1% OR 2% ,  Kindly Give the Govt  notification No and date or Circular Nos and date.

Kindly revert the message immediately

Very Urgent

 

Thanks and regards

Bhaskara rao .y

bhaskarayandapalli @ gmail.com

Replies (12)

TDS @ 1 % is aplicable

Rate is 1% . for notification search on google !

I don't think that you will find any circular on it....

it is written in Income Tax Act,

Please refer ,Finance act 2011 

Rates of TDS is prescribed by Income tax act / Finance Act not by way of circular .

 

Agreed with Mansha -refer to Finance Act 2011 & you will definately get those rates

Section194C

Payment to contractors/sub contractors(Ind/HUF)-1 %

Payment to contractors/sub contractors(other than Ind/HUF)-2 %

 

 

 

 

Section194C

Payment to contractors/sub contractors(Ind/HUF)-1 %

Payment to contractors/sub contractors(other than Ind/HUF)-2 %

 

Payment to contractors/sub contractors(Ind/HUF)-1 %

Payment to contractors/sub contractors(other than Ind/HUF)-2 %

 

it is right.. please check the link...

 

.https://www.taxprintindia.com/tds-rate-chart-11-12.htm.

you can also check the attachment for tds rates

For  AY 12-13 (FY 11-12)

1. Individual / HUF   ------>>>>>>  Rate is 1%

2.Firm / company / Local Authority / Co- operative Society ------->>>>>> Rate is 2%

Thereshold Limit 

 1. For single transction  ------->>>>>>  30,000

2.For Agreegate  ------------>>>>>>>> 75,000

 

as per Finance  Act , 2010

 

 

 

 

Section194C

Payment to contractors/sub contractors(Ind/HUF)-1 %

Payment to contractors/sub contractors(other than Ind/HUF)-2 %

 

Threshold limit:

1. for a single transaction Rs. 30000 and,

2. for agreegate Rs. 75000.

 

Section194C

Payment to contractors/sub contractors(Ind/HUF)-1 %

Payment to contractors/sub contractors(other than Ind/HUF)-2 %

 

 

what is vat rate againes from c for all state 


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