28 June 2013
Dear Sir i am working as a accountant in Govt Office we offered one NGO to Serve a 10 employe as a contract basis we give 11OOO per person as a salary to NGO i.e 10*11000.. but our head office issused circular that have to deduct PF,ESI,PT,ST,IT so plese help acctually who have to deduct taxes & How plese give with example
28 June 2013
I can explain you about how contractors TDS is deducted. Monthly payment to the Contractor is 110000/- so you have to deduct tax @ 2% of the Contractor which is Rs.2200/-. Your organisation will issue a cheque of Rs 107800/- and Rs. 2200/- will be transferred to Govt A/c. .
CAclubindia
