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What is minium bill of TDS Deduction
Example
If Contractor give us 1st Bill - 10000/-
2nd Bill - 15000/-
3rd Bill - 7000/-
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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 |
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 |
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 |
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 |
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 |
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 |
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 |
Pls advise if a client pays us - Rs. 3,43,00 after deducting 2% TDS 7000 on 3,50,000/- and our Invoice is Rs. 3,30,000/- then how we pas entry of the difference amount Rs. 20,000/-
what is document require for vat registration?
In the case of bank fixed deposits,t.d.s. u/s194A ,is to be deducted whether on the basis of person ,as a person earns 50000 interest on 1 fd or on fixed deposit scheme as 10fds earn 200000 interest?
which is the Due date of Challan & return filing dates of VAT,PF,PT,ESI,TDS,Service TAx and IT in Uttarakhand.
the vendor is supplying us printing application forms including material and he add 5% vat is there any chance to deduct tds
Which form we use at the time of retun filling(quqrterly) in the case of state haryana.Tell me in breief and plz tell me about the use of Challan 'C'.
M paying salary of Rs. 22500/-, 21500/- & 17500/- to my employees, frm June 2010. I still have not deduct TDS from their salary. I have not applied for TAN No. M also paying rent of Rs. 50,000/- pm. And also have not deducted TDS on it. What should I do now?
Journalise the following Entries? Outstanding salary of rs. 20000/- Prepaid insurance of rs. 5000/-
What is the difference between Direct &indirect tax?
What is the reason of charging surcharges?
which form is used for issuance of C Form ,F form etc. from Sale tax Authority (Haryana), when should be apply? what documents to be submitted?
How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?
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