Rate of TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2009
As an accountant i have to deduct TDS from the payment to contractor but PAN of contractor is not available so what is the rate of TDS(after 1/10/2009) is applicable ?
Is ther any rate of TDS diff.if it is paid to other than contractor ?
Is ther any rate of TDS diff.if it is paid to other than contractor ?
24 November 2009
rate will be 1% if payment is to be made to individual/huf/society. 2% if payment is to be made to Company/firm
24 November 2009
agree with expert
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2009
it means that there is no diff. whethere contractor having PAN card or not ?
24 November 2009
it will not make any difference till 31st March 10. But after that if the transporter does not provide the PAN on the bill or receipt note then you need to deduct the TDS at higher rate i.e 20%.
This amendment is applicable w.e.f 1.4.2010.
This amendment is applicable w.e.f 1.4.2010.
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