what is tds and what is what is the current rate of tds on
payment of contract and payment of professional charges
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Answer / nutan gonehalli
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 ? | 11 Yes | 2 No |
Answer / ankita sinha
current rate of tds on payment of contract 2.06%
professional charges 10.3%
| Is This Answer Correct ? | 7 Yes | 1 No |
WHAT IS TIN
reverse charge applicable here and sr is liable to pay service tax 100% and service provider gives service rs 114 (inclusive tax).then tell me amount payable to service provider?
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DEAR SIR,PLEASE INFORM US THAT BETWEEN BILL DATE & INWARD DATE WHAT DATE WE HAVE TO WRITE IN "C" FORM.AS WHEN WE RECD.BILL IN DATED OF 30TH JUNE, & WE ARE TAKING THE SAME IN JULY AS OUR INWARD DATE, IN THIS CASE QUARTER HAS BEEN CHANGED & PARY IS ASKING FOR BILL DATE IN "C" FORM INSTEAD OF INWARD DATE.KINDLY HELP US IN THIS REGARD-RAJESH PATEL.PH.079-25624003
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