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Should I deduct TDS for Dyeing Charges in Garments
Industry? If yes what is the percentage under which group
it will come?
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Answer / rupan
if your payment for dyeing charges to a same party(outside
party other than your employee) exceeds Rs.20000 or your
total annual payment to a same party exceeds Rs.50000 you
need to deduct TDS at the rate of 2% plus surcharge 10%(if
your total annual payment to that party exceeds one crore)
plus e.cess 3%. This comes under TDS on Contract.
| Is This Answer Correct ? | 9 Yes | 2 No |
Answer / murali
yes, When Your Tds Amount Exceed of Rs. 20000/- Per Month
or Rs. 50000/- Annualy then tds is Applicable. The
Percentage will be calculated based on the services like,
Contact, Sub-Contract, Prof. etc
| Is This Answer Correct ? | 6 Yes | 4 No |
Answer / prabakar
If it is a contract then tax is 2% surcharge 10% Edcucation
Cess 2% and Hr.Education Cess 1%
| Is This Answer Correct ? | 2 Yes | 5 No |
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