what is tds and what is what is the current rate of tds on payment of con

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Question

what is tds and what is what is the current rate of tds on 
payment of contract and payment of professional charges

Question Submitted By :: Pradeep

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Answer Posted By

Re: what is tds and what is what is the current rate of tds on payment of contract and payment of professional charges

Answer
# 1

TDS - Tax Deducted at Source. The Tax is deducted from one 
receipt if the income of the rceiver is more than that 
prescribed by the Income tax act.

The TDS rate for Contract - 2% & For sub - Contracting is 1 
% . advertisement Contract - 1%
if the contract value donot exceeds rs. 50000/- for the year
& single payment donot excceds Rs. 20000/-. In that case 
deduction of TDS is not liable.

Professional - 10%

Is This Answer Correct ?

6 Yes

1 No

Nutan Gonehalli

Re: what is tds and what is what is the current rate of tds on payment of contract and payment of professional charges

Answer
# 2

current rate of tds on payment of contract  2.06%
professional charges 10.3%

Is This Answer Correct ?

7 Yes

0 No

Ankita Sinha

Question	Asked @	Answers
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