T.D.S. applicability

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130 Points Joined October 2008

Whether T.D.S. is applicable on payment to contractor by private company whose business is of builders    

For ex. :- ABC (P) ltd. is paying  500000/- in cash  to a small contractor who does not want that T.D.S. should  be deducted . Whether Company should deduct T.D.S. or not. What should company do in such circumstances??????.........

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On 24 September 2010 at 12:21 Report
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Any payment of Contractor of Exceed Rs.30,000 ABC (P) Ltd. can deduct TDS @ 1% for Individual case and Co. case @ 2%

 

If Contractor does not provide pan no. ABC (P) Ltd. can deduct TDS @ 20%

Ok

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On 24 September 2010 at 13:08


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