tds
This query is : Resolved
07 October 2009
If I have to pay a sum of Rupees to our contractor who have appointed the security guard in my college. I have to make a payment of Rupees 260000, Please suggest how much tds and at whar rate should I duduct while making such payment on 15-10-2009.
07 October 2009
It is assumed that you are following cash system of accounts.
The deduction will be under section 194C(ie. payment to Contractors). There are two rates at present. 1% or 2%.
If the deductee is an indivisual or huf, the rate is 1%, else 2%.
The deduction will be under section 194C(ie. payment to Contractors). There are two rates at present. 1% or 2%.
If the deductee is an indivisual or huf, the rate is 1%, else 2%.
07 October 2009
Please correct me if I am wrong.
TDS amount- 260000x1%
ie-2600
Please suggest do we need to add education cess and higher education cess or only 1% ie 2600
TDS amount- 260000x1%
ie-2600
Please suggest do we need to add education cess and higher education cess or only 1% ie 2600
07 October 2009
I think, the calculation is correct.
No need to deduct any cess.
No need to deduct any cess.
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