We are contractors and we have further given the work to another sub contractor. The sub contractor has raised a service bill i.e for installation etc.
Sir Pls guide me the rate of TDS, as we have to deduct on contract or service.
06 June 2016
is sub contractor individual or huf???
If sub contractor is individual or huf, then the rate of TDS is 1%. In any other case rate is 2%.
TDS to be deducted only when single payment to a subcontractor exceeds 30000 or total payments made to him exceeds 75000 in a financial year
CAclubindia
