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Categories  >>  Accounting  >>  Taxation
 
 


 

 
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Question
pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR

 Question Submitted By :: Pankaj
I also faced this Question!!     Rank Answer Posted By  
 
  Re: pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR
Answer
# 1
The rule of tds deduction related contractor is

TDS Rate 2 %
Surcharge 10% (if amount exceed 10 lac)
EC 2% & SHE 1% total = 3 % on (TDS & Surcharge)

In sub-contract TDS rate is 1%

Condition

1. Tds deduction starts when Single payment exceeds 20,000/-
 & agreegate payment exceeds Rs.50,000/-.
2. once deduction starts tds will be deducted on whole 
amount which has been paid to the certain constractors 
earlier without deduction.
 
Is This Answer Correct ?    3 Yes 1 No
Shankar Kumar
 
  Re: pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR
Answer
# 2
this catagory falls under sub-contractor hence tds 
applicable@ 1%+3% cess dont includ the service tax in such 
calculation
 
Is This Answer Correct ?    0 Yes 0 No
Rajnath Maurya
 
 
 

 
 
 
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