Government aided school give a contract to contractor for construction of building.
Bill raised by contractor had paid by school but some of the bill still due
But Tds had not deducted by school.
What will be the solution of this problem ?
2 Replies
CA Devanand Jethanandani
(CA)
(8003 Points)
Replied 19 August 2014
Dear Gautam,
Deduction of Tax is responsibility of the person making payment (in present case it is the school), hence payee (the contractor) need not to worry about non deduction of tax.
And for bills pending, he (contactor) can ask the concerned persons in school for the bills due.
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 19 August 2014
Dear Gautam,
If the total amount paid by the school to contractor is more than 75000/- in a year then TDS is required to be deducted as per section 194C.
School can deduct the whole amount from later bills in full if not deducted before.
Be sure about the rate as ( individual - 1% and others 2%)
Regards
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