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pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR

Answer Posted / shankar kumar

The rule of tds deduction related contractor is

TDS Rate 2 %
Surcharge 10% (if amount exceed 10 lac)
EC 2% & SHE 1% total = 3 % on (TDS & Surcharge)

In sub-contract TDS rate is 1%

Condition

1. Tds deduction starts when Single payment exceeds 20,000/-
& agreegate payment exceeds Rs.50,000/-.
2. once deduction starts tds will be deducted on whole
amount which has been paid to the certain constractors
earlier without deduction.

Is This Answer Correct ?    4 Yes 1 No



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