Interested to Buy Any Domain ? << Click Here >> for more details...
What is minium bill of TDS Deduction
Example
If Contractor give us 1st Bill - 10000/-
2nd Bill - 15000/-
3rd Bill - 7000/-
- 14 Answers
- 52091 Views
- ABC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / vikram reddy
TDS Applicable on minimum bill amount is Rs.20000/- per year
50000/-
if contractor is individual/HUF 1% TDS applicable
if contractor is given the bill in the name of firm 2% TDS
applicable
| Is This Answer Correct ? | 50 Yes | 18 No |
Answer / soumitra biswas
TDS is applicable if the following condition are satisfied:
(a).Value is exceeds Rs.50000 of the said contractor in a particular year,or
(b).Value of a single bill exceeds Rs.20000.
If any of the above said condition is satisfied then deduct 2% in case of Company and 1% in case of individual(TDS rate as applicable from 01.10.09).
| Is This Answer Correct ? | 25 Yes | 5 No |
Answer / m v ramana
TDS Applicable on minimum bill amount is Rs.20000/- and
maximum Rs.50000/- per annum.
If contractor is individual/HUF @1% TDS applicable, If
contractor is given the bill in the name of firm @2% TDS
applicable.
But there is no bill cross of Rs.20000/- and total bills /
payments not more than Rs.50000/- per annum, no tds
deducted on contractor bills/ payments.
| Is This Answer Correct ? | 20 Yes | 3 No |
TDS applicable on Minimum Bill amount 20000/ P.A
1 10000/ TDs Not applicable
2. 15000/ TDS applicable (15000+10000) 2%+3% E.Cess
for Main Contractor
3. 7000 on 2% + 3% Education Cess.
Note- in case 1 (10000/-) applicable if a contractor bill
rs. more than 20000/- in a year
For sub contracot & advertising com. 1% + 3 % edu. cess
| Is This Answer Correct ? | 24 Yes | 12 No |
Answer / mohsin
TDS is calculated on the bill amount.
i.e., 10000*2.06%=206
15000*2.06%=309
7000*2.06%=144.2
| Is This Answer Correct ? | 66 Yes | 55 No |
Answer / pradeep gupta
TDS applicable on Minimum Bill amount 20000/ P.A
1 10000/ TDs Not applicable
2. 15000/ TDS applicable (15000+10000) 2%
3. 7000 on 2%.
| Is This Answer Correct ? | 21 Yes | 10 No |
Answer / ramana. m.v
The rates are applicable for the FY 2012-13 AY 2013-14 :
1% where payment / credit is to an Individual or HUF.
2% where recipient is any other person.
If the credit or the payment in pursuance of the contract does not exceed Rs.30,000/-, no deduction has to be made at source. However , if the aggregate of all amounts paid/credited or likely to be paid/credited exceeds Rs. 75,000/- then tax at source is to be deducted
TDS without PAN : If Pan has not been provided by the deductee, then TDS must be deducted @ 20% u/s 206AA.
* There is no need to deduct any TDS for a single financial year not exceeded Rs.75000/-.
| Is This Answer Correct ? | 9 Yes | 1 No |
is all type of tds is refundable or not please explain?
what is FBT & where it is used?
Our company refundable ST amount but we dont want to refund amt but i want to adjust that refund amount anywhere
Can we pay advance salary to a single employee in cash of an amount exceeding 10,000?
if we are purchase in 45 vat tax than we can deduct tds on contract
Start a service related company?
Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.
what is excise duty, how much rate calculation on manufacturing goods?
113 Answers Agricon, Bajaj, CMS, Gaurav International, Genpact, Janpact, KJH, MahaGenco, Manufacturing, Mennen Industries, Pharma, Reliance Communications, VSS,
I AM RECEIVING THE GOODS FROM FACTORY BY STOCK TRANSFER I AM ISSUUING THE FORM- F FOR THE VALUE. IN CASE I AM RETURNING THE GOODS AS REJECTION WEATHER I HAVE TO RECEIVE THE FORM F FROM OUR FACTORY CONFIRM ME
How can done the Accounting of WTC ? OR WTC treat (Take) like Service tax credit?
IS THERE IS ANY EXUMTION FOR THE NEW CONCER TO NOT THE DEDUCT TDS IN THE 1st YEAR OF ITS INCORPORATION IF THE TURNVOER EXEED THE SPECIFIED LIMIT IN THE 1st YEAR.
Tax Audit is compulsory to whom?
Audit 
