Tds - urgent
riddhi (student) (746 Points)
05 December 2016
Does TDS get deducted when you hire someone to change the wiring and lights in office. Material and labour will be theirs.
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177949 Points)
Replied 05 December 2016
Depends upon the status of deductor and the threshold limit/s.
riddhi
(student)
(746 Points)
Replied 05 December 2016
the total bill will be around 45k -50k and the deductor is a company which normally pays tds under 194j and 194i. The deductee is an individual
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177949 Points)
Replied 05 December 2016
TDS should be deducted in this case under 194C, if any single bill exceeds 30K, @ 1% (for individual) having PAN. Otherwise @ 20%.
DILIPKUMAR
(B.Com)
(45 Points)
Replied 06 December 2016
TDS should be deducted u/s 194C @ 1% for individual or 2% other than individual, as the case may be. Threshold limit is 30,000/- for single payment and 1,00,000/- for aggregate
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