TDS

This query is : Resolved

Nitin Panthri (Querist)
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26 May 2010 Dear Experts,
The following are the details of contractors hired by a company:
A-Rs. 49,000\-
B-Rs. 30,000\-
C-Rs. 55,000\-

on how much amount the TDS is to be deducted under the provisions of income tax??
Assuming that no single payment is made in excess of Rs. 20,000\-.
Pls reply as soon as possible...

I'll be thankful to you...

Ram Avtar Singh

Ram Avtar Singh (Expert)
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26 May 2010 A-Rs. 49,000\-

C-Rs. 55,000\-

TDS to be deduct as per income tax under sec194C

But if contractor B is continue above 75000 then TDS applicable. for hole year

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CA. NIRMAL SINGH

CA. NIRMAL SINGH (Expert)
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26 May 2010 Tds u/s 194C is required to be deducted if:
1) Single payment to 1 contractor exceeds Rs. 20,000

2)Total payment for the year to 1 contractor exceeds Rs. 50,000.

hence TDS to be deducted from C only.

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