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we want to know that the rate of TDS on contractor , rent,
Professional and also know that what is the minimum amount
for TDS on Contractor , Professional
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Answer / swati
TDS on Contractor for company firm - 2% limit - Rs.75000/-
per year
TDS on Contractor for Individual -1% limit - Rs75000/-for
year
TDS on Professional - 10% limit-Rs.30000/- for year
TDS on Hiring - 2%
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / manoj s
SEC 194C -CONTRACTORS. IF THE SINGLE BILL IS EXCEEDING
30000 OR THE AGGREGATE BILL IN A YEAR EXCEEDS 75000..THEN
TDS OF 1% IS DEDEUCTED IF IT IS SUB CONTRACTING OR
ADVERTISING .. IN OTHER CASES 2% OF TDS IS DEDUCTED
SEC194I-RENT .. IF THE AMOUNT EXCEEDS 180000 PER ANNUM ..
THEN PLANT AND MACHINERY 2%
OTHER ASSETS 10% IS DEDUCTED
SEC194J-PROFESSIONAL FEES.. IF AMOUNT EXCEEDS 30000 IN A
YEAR.. THEN 10% TDS IS DEDUCTED
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / sharyanch
TDS on Contractor 2% - Contractor bill Rs.20000/- in
lumpsum payment for TDS deduction or Rs.50000/- payment in
current financial year.
TDS on Rent 20%.
TDS On Professional 10% - Mimimum Rs.5000/-
| Is This Answer Correct ? | 7 Yes | 8 No |
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