TDS ON STIPEND

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2011 What should be Tds rate on Stipend of Rs. 5000/-Per month paid to Trainee .

Suppose Initial period is 3 months, and then extended to 10 months.

Terms of letter are that this is independednt contract and is not employee of co.

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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04 April 2011 I hope there is no room for TDS since the payment in total does not exceed the tax limit.

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2011 In which section of I.tax Act you are covering it, Sec. 194C or Sec. 194J or any other .And why ?

If stipend amount is Rs. 10,000/- per month then also let me know the status of Tds ? It's Urgent.

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