Interested to Buy Any Domain ? << Click Here >> for more details...
What is minium bill of TDS Deduction
Example
If Contractor give us 1st Bill - 10000/-
2nd Bill - 15000/-
3rd Bill - 7000/-
- 14 Answers
- 52472 Views
- ABC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
what is present rate for excise duty & service tax for f.y 2009/10?
how to calculate the TDS?
4 Answers EXL, Greet Technologies, MCC,
what is the rate of service tax in haryana?
what is the threshold limit on contract for financial year 2008-09
What is Sec 10A under Income Tax.
how many types of sale tax returns?
Pls.tell me some website name who display practical question & answers of accounting work. like tds, service tax entry and some more. also provide important knowledge of all taxes.
What is the method of Calculation of Deffered tax as per AS -22? Which income is included in calculating Deffered tax? Net profit or Sales for calcultion?
How many types of Tax are ?
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?
CAN FILL HARYANA SALE TAX RETURN ONLINE?IF FILL THEN HOW?WHAT IS THE PROCESSORS FOR FILLING HVAT RETURN?
If TDS on Rent is to be charged on Rent which includes Maintenance Charges which are clearly evident, then has TDS on REnt also to be charged on Maintenance Charges?
Audit 
