What is minium bill of TDS Deduction
Example
If Contractor give us 1st Bill - 10000/-
2nd Bill - 15000/-
3rd Bill - 7000/-
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Answer Posted / 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).
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