05 October 2011
good evening expert, how r u sir , i want your help about TDS on refilling chgs for fire extinguisher.we rec. a bill of fire extinguisher amt, is 15850. than sir can u plz tell me that in which section i will deduct tds from his amt.
05 October 2011
If refilling charges in a year exceeds Rs 75000/- or single payment exceeds Rs 30000/- u have to deduct TDS @1% or 2% as the case may be.
It is covered by section 194C of Income TAx Act.
If Deductee is Individual or HUF 1% Other than that 2%