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
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,
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...
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
CAclubindia
