TDS
This query is : Resolved
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...
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...
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
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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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.
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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