HI!
Can anyone give me complete desciption of TDS under 194C for the FY 2012-13 (if possible please provide it with proof)
Regards,
Amruta
7 Replies
Ankit a shah
(Internal auditer)
(92 Points)
Replied 31 October 2012
194c(1) for contract singal traction 30,000 1% for HUF/INDIVIUAL ,2% for others
IN year 75,000 or more same as above
194c(2) sub contactor / Advt same as above
without pan card 20% for all
Lalit Sangani
(M.Com. Asst. Manager Account)
(736 Points)
Replied 31 October 2012
TDS on contractor applicable when total invoice amount above Rs. 30000/- or agreegate amount 75000/- in a year.
TDS on Individual and HUF @ 1% and on company 2%.
TDS not applicable on Transporter.
For all type of tds rate please download attachment file.
or visit tdsratechart.com
Attached File : 810146 1078331 tds rate chart.doc downloaded: 229 times
Amruta
(student)
(92 Points)
Replied 31 October 2012
Hey thanks for the information.
But does it mean that overall limit of Rs. 75000/- for the whole year does not apply from F Y 2012-13.
Ankit a shah
(Internal auditer)
(92 Points)
Replied 31 October 2012
yaaa if your year bill is more than Rs 75000 tha it ll deduct and less than that no dedution but if your singale bill amount is more than 30000 than u have to deduct
Lalit Sangani
(M.Com. Asst. Manager Account)
(736 Points)
Replied 31 October 2012
yes during the year if amount exceeds Rs.75000/- by payment or credited TDS will be applicable on contractor
Ankit a shah
(Internal auditer)
(92 Points)
Replied 31 October 2012
When you purchase the bill more than 75000 than it ll be applicable
G Renganathan
(Accountant)
(225 Points)
Replied 10 December 2012
Tds For 194 C section FY - 2012 -13
Individual - 1%
Firm / Company - 2%
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