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

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%)

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.

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.

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

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

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