hi team
what should be the tds rate on the payment made to security service provider for the amount paid to security guard employed on contarct basis? is this falls in work contract expenses?
thanx
ish kumar sharma (Sr. Manager Accounts & Finance) (301 Points)
11 August 2015hi team
what should be the tds rate on the payment made to security service provider for the amount paid to security guard employed on contarct basis? is this falls in work contract expenses?
thanx
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 11 August 2015
It is governed by the provisions of 194C: supply of manpower for any work. If the payee is the individual/HUF then TDS @ 1% or @ 2% for others, provided single bill value exceeds 30k or aggregate during the year exceeds 75k