A company paying amount againts man power charges including some percentage of profit on man power expenses. What Percentage of tds will be deducted by company on payment.
1 Replies
Vishal Goel
(Chartered Accountant)
(1693 Points)
Replied 05 February 2016
Hello,
As my understanding company is paying manpower charge plus commission (Profit) to contractor..
Any person responsible for paying any sum to a resident contractor for carrying out any work (incl. Supply of labor for carrying out any work) under a contract shall deduct TDS on payment to contractor under Section 194C at the time of such payment thereof in cash or by issue of cheque or draft or by whatever name called, whichever happens earlier.
The TDS on Payment to Contractor under Section 194C shall be deducted at the below mentioned rates:-
- 1% if the payment is being made to Individual or HUF
- 2% in all other cases (i.e. cases except payment to Individual or HUF)
Recent Topics
- Company striked off in 2007 a specific question
- Income tax AY 22-23
- Filing of updated return
- ITC on Warranty Extension
- TAX RELIEF ON SEVERANCE PAY
- Offline appeal documents doubt
- Https://www.facebook.com/calmxcbdcapsules/
- 15CA Mistakes
- Uploading missing sales invoice
- Shipping from Netherlands To Egypt for Indian cust
Related Threads
CAclubindia
