TDS deduction

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deepak gairola (Querist)
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06 December 2010 Good Afternoon Everyone

Sir i work in a private company.our company give advertisement in newspaper magazine on behalf of our client. newspaper company donot charge service tax on invoice. so we have to deduct TDS on net amount please suggest

Thanking you
Deepak Gairola

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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06 December 2010 Dear Deeoak,

The above transaction will over under the head Contract .. ( 194 C) if single payment exceeds Rs 30,000/- or aggregate anount exceeds Rs 75,0000/-.

TDS shall be @ 2 % on the invoice raised by the client..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 December 2010 Sec 194C applicable. Deduct TDS on total amount of Bill raised by News paper company.
Threshold limit as mentioned above by Vivek Ji.
TDS Rate:

Individual/HUF @1%
Others @ 2%.

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CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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06 December 2010 Thank you sanjya for your clarification with respect to Rate...