Deduction of tds
This query is : Resolved
09 May 2012
what are the rules and limits to deduct the tds on payment to contractor for the financial year 2011-12 A.Y. 12-13
09 May 2012
Section 194C.
Rate:
Individual/HUF @1%
Others @2%
No PAN 20%.
Threshold Limit:
Single Bill Rs 30000/-
Annual Payment Rs 75000/-
In case of transport contractor no TDS to be deducted if valid PAN is provided but details of such payment to transporters need to be mentioned in TDS Return.
Rate:
Individual/HUF @1%
Others @2%
No PAN 20%.
Threshold Limit:
Single Bill Rs 30000/-
Annual Payment Rs 75000/-
In case of transport contractor no TDS to be deducted if valid PAN is provided but details of such payment to transporters need to be mentioned in TDS Return.
Message likes :
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09 May 2012
YES....
AGREE WITH ABOVE EXPERT.
AGREE WITH ABOVE EXPERT.
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