how to calculate sub contract tds his bill 48500?
Answers were Sorted based on User's Feedback
Answer / kalaveri.pradeep
if sub contractor is individual or HUF 1% of tds we will
deducted if sub contractor is other than individual or HUF
we will deducted 2% of tds
tds amount if sub contractor is individual or HUF tds
amount is 485
tds amount if sub contractor is otherthan individual or huf
tds amount is 970
Is This Answer Correct ? | 37 Yes | 7 No |
Answer / nagaraju
Since new changes in TDS rates there is no need surcharges
and educational cess.
if sub contractor is individual/HUF then TDS rate is 1%
then tds Amount =485/- (48500*1%)485/-
other wise tds Amount = 970/- (48500*2%)
Is This Answer Correct ? | 25 Yes | 2 No |
Answer / fareed ahmad
Rate of TDS ON Sub contract is 1%
Education Cess is 2% on 1% of Sub contract Value.
and 1% is Higher education cess
So, total dudution of TDS IS 1.03%
If The contract value is 48500 deuduction of TDS is
48500*1.03%= 499.55/-
With Thanks and Regards,
Fareed,
Accountant,
Super Fire Engineering Private limited.
Mobile No 9866887880.
Is This Answer Correct ? | 20 Yes | 10 No |
Answer / guest
according to ammendment in it. 01/07/2010.
There is no TDS on one time payment of Rs.48500.
& no TDS on fy-2010-11. paid as a full.
one time payment 50000
in a fy-75000
in this case it is not defined that its one time or payment
in a fy total.
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / heera sawant
48500 TDS
48500 x 1% TDS=485/-
485 x 10%Surcharge =48.5/-
485 x 3% Edu.cess = 14.55/-
= 485 + 48.5 + 14.55 = 548.05
Is This Answer Correct ? | 17 Yes | 16 No |
Answer / shabd kumar choudhary
In every cases whether it is individual or huf/ Co.or Firm
the rate of tds is 1.03% .
in this case the tds amount will be
=48500*1.03%
499.55
Is This Answer Correct ? | 13 Yes | 17 No |
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