TDS on contract

This query is : Resolved

ramana (Querist)
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01 February 2011 Dear sir,
I am an individual doing part time jobs. I am not doing any business. I am constructing a building for giving the entire building on lease to school. In which I am paying amounts to labour contractor and professional fee. Whether I have to deduct TDS or not?

Ramana

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 February 2011 You are not required to deduct TDS on any payments which are being made by you.

TDS is required to be deducted by only those Individuals whose turnover (Sales)/ gross receipts exceeds 60lacs/ 15lacs.

You need not to worry. You just concentrate upon the construction work, so that it can be completed till the next session starts. with all the best-