Tds deduction
This query is : Resolved
02 January 2012
Dear all experts
I want to know that a contractor is engaging for construction work using their personal PAN no. for that while work order value is more than 80 Lac then what TDS rate should be applied?
I want to know that a contractor is engaging for construction work using their personal PAN no. for that while work order value is more than 80 Lac then what TDS rate should be applied?
02 January 2012
For Contractor Section 194C will apply.
TDS to be deducted @1%.
TDS to be deducted @1%.
03 January 2012
Mr. Sanjay is right. As per TDS section 194C, 1% TDS is to be deducted for any payment made to individual or HUF.
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