TDS Exemption

This query is : Resolved 

08 March 2010 Dear all

If contractor has not pan no. tds rate 1% / 2% .(20% from 01.04.10)
is it exempt for 20000 or 50000 ?

Please explain

Thanks & Regards
Jiwan Singh

08 March 2010 Rate can be applied only when a transaction is within the purview of TDS Provisions.

As such, in my view, exemption is available.

The threshhold has been proposed to be enhanced to 30K & 70K in the union budget.

08 March 2010 YES. IF THRESHOLD LIMIT DOES NOT EXCEED YOU ARE NOT REQUIRED TO DEDUCT TDS WHETHER THAY HAVE PAN NO OR NOT.



23 June 2010 IT IS A QUERY OF 8TH MARCH AND YOU ARE AGREEING ON 23RD OF JUNE. QUITE STRANGE.



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