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we are giving the UPS monthly charges 10000/- should we deduct tds if yes then how we will calculate it
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Answer / rajesh kumar
yes, TDS is Applicable under Sec- 94 I
Calculate
10000 of the 2% = 200 monthly payment
rent 94 I
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / rajashekar
This expense will come
under(CONTRACT)
hence section
applicable is 194c not
194 I if 194 i
applicable then you
have to deduct 10%
tds,even this is also not
possible because
threshold limit is Rs
180000
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / rakesh krishna.v.r
you do not have to deduct any amount from payment if there is only one payment of Rs.10000.Because as per sec 194c Payment to contractors or sub-contractors minimum amount applicable amount is 30000 (F.Y.2012-2013) percentage of deduction is 10%.
Yearly Limit u/s 194C:Also where the aggregate of the amounts paid/credited or likely to be paid/credited to Contactor or Sub-contractor exceeds Rs.75,000 during the financial year, TDS has to be deducted @10%
TDS at higher rate ie., 20% has to be made if the deductee does not provide PAN to the deductor.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / rajesh kumar
yes, TDS is Applicable under Sec- 94 I
Calculate
10000 of the 2% = 200 monthly payment
rent 94 I
| Is This Answer Correct ? | 2 Yes | 3 No |
tds deduction all categries details
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