Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


What is minium bill of TDS Deduction

Example

If Contractor give us 1st Bill - 10000/-
2nd Bill - 15000/-
3rd Bill - 7000/-


Answers were Sorted based on User's Feedback



What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

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

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

Answer / kadir

Tds applicable on minimum bill amount is Rs. 20000/- per
year 50000/-

But there is no bill cross 20000/- and total bill in that
year not above 50000/- hence no tds deducted on contractor

Is This Answer Correct ?    28 Yes 8 No

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

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

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

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

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

Answer / s.p. yadav

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

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

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

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

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

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

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

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

Answer / rahul

30000 ONE BILL
AND TOTAL IN A.Y 75000 RS

Is This Answer Correct ?    8 Yes 2 No

What is minium bill of TDS Deduction Example If Contractor give us 1st Bill - 10000/- 2nd Bil..

Answer / saranya

206
309
144.20

Is This Answer Correct ?    4 Yes 0 No

Post New Answer



More Taxation Interview Questions

how to calculate sub contract tds his bill 48500?

6 Answers   Capital IQ,


if we have amc any vendor 25,000 pa. should we deduct TDS

2 Answers   MAHINDRA,


Please some one tell me what is the VAT or WCT rate for works contract at Tripura

0 Answers  


Under what circumstances Deferred Tax Liability or Deferred Tax Assets entries to be passed ? or what is the advantage by passing the above entries ? How the above entries to be nullified / reversed ( with examples please )

2 Answers  


How does submission of C form affect VAT ?? please give detailed example with explanation

2 Answers  






when we calculate the inclusive Tax for Room in Hotel then we first Calculate luxury Tax and the what is the Balance Amount renaming on that We calculating Service Tax is it correct?

1 Answers   AB,


We paid advance rent of office for next 6 months, when should we pay the TDS into bank, is it will monthly or it will be in advance?

7 Answers  


if i the vendor is providing us some printing material & they issue a bill of printing with including Vat so what can i deduct TDS ?

0 Answers   LifeCell,


ON WHICH FBT IS APPLICABLE, WHTS ARE THE CURRENT RATE OF FBT FY-09-10 WHAT IS LAST DATE OF DEPOSIT FBT TAX & RETURN

1 Answers   ITC Infotech,


Dear friends, can A trading firm register with excise? i want to know all about excise.

1 Answers  


I am getting a salary of 50000 Rs Net salary. After showing my rent bills and children school bills, still I am being deducted a TDS amount of 2000. Is there any chance of even avoiding this amount to be deducted by investing in any insurance. Please give me a suggestion.

2 Answers  


hi which form issue again ogs purches & sales ? which is the tax rat we issue c form?it's cst3% is avelabe to issue the c-form?

0 Answers  






Categories