TDS
This query is : Resolved
15 April 2010
One of our party is doing jobwork for stitchin of bags (Packing purpose), in this jobwork part of material supplied by us and part of material provide by him and bills not making seprately for material and jobwork. and also his bills not in proper format & not contain PAN details.
Here should be deducted TDS or not ? How many percentage
Here should be deducted TDS or not ? How many percentage
15 April 2010
TDS SHOULD BE DEDUCTED U/S 194C. ASK THE PARTY FOR PAN. IN ABSENCE OF PAN TDS TO BE DEDUCTED @20%.
IF PAN IS PROVIDED--
INDIVIDUAL OR HUF @1%
OTHERS @2%.
ASK YOUR VENDOR TO GIVE SEPARATE BILL FOR MATERIAL OTHERWISE TDS TO BE DEDUCTED ON TOTAL AMOUNT.
IF PAN IS PROVIDED--
INDIVIDUAL OR HUF @1%
OTHERS @2%.
ASK YOUR VENDOR TO GIVE SEPARATE BILL FOR MATERIAL OTHERWISE TDS TO BE DEDUCTED ON TOTAL AMOUNT.
16 April 2010
Agree
16 April 2010
As the material is provided by you then it comes under the definition of work u/s 194C of the act, hence tds is deduction @ 1% in case of individual and HUF and 2% in case of any orther payee.
please also check the provision section 206AA for higher deduction of tax @ 20% in case the payee does not provide his PAN.
please also check the provision section 206AA for higher deduction of tax @ 20% in case the payee does not provide his PAN.
16 April 2010
Agreed..
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