I am hiring a machinery from phillips, and i am paying regularly hire charges to them.
shall i deduct TDS on hire invoices amount , if ok than can you please help me the % to be deduct.
P.Srinivas Rao (Manager Commercial) (37 Points)
14 April 2010I am hiring a machinery from phillips, and i am paying regularly hire charges to them.
shall i deduct TDS on hire invoices amount , if ok than can you please help me the % to be deduct.
praveen
(Chartered Accountant)
(6971 Points)
Replied 14 April 2010
From now on you can deduct TDS @ 2%
srinivasareddy
(exicutive accounts)
(26 Points)
Replied 18 April 2010
Dear friend ,
The Threshold limit is more than 120000/- per anum we can dedudct 2% per bill gross amount.
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