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- Section 194C - Guide on TDS on Payment to Contractor
What is the Rate of TDS? TDS needs to be deducted at 1% for payments made to individual and HUF contractors For entities other than individuals and HUF, 2% payment is deducted A table describing the rate of TDS to be deducted under section 194C is given below
- Section 194C – TDS on Contractors - Tax Guru
The present article briefly covers the important provisions relating to TDS section 194C of the Income Tax Act along with the Frequently Asked Question
- Section 194C - TDS on Contractor Payments Work . . . - Tax2win
The rate of TDS is 2% or 1% of the gross or net payment, based on the terms of the contract If the value of materials is mentioned separately on the invoice, TDS will apply only to the net payment (excluding material costs)
- Section 194C: TDS on payment to contractors - CAclubindia
Note: Click here to know the TDS Rates applicable for FY 2023-24 or AY 2024-25 Deals with TDS on payments made to resident contractors and sub-contractors If any person makes payment to resident contractors or subcontractors for work done under a contract are required to deduct TDS
- 194C TDS for Contractors: Reporting Payments Avoid Notices
Section 194C mandates that specified persons must deduct TDS when paying contractors or sub-contractors for any work carried out under a contract The term “work” is broadly defined and includes services like advertising, transportation, manufacturing (under customer specifications), and catering
- TDS Under Section 194C : TDS on Contractor – taxreaders. com
The rate of TDS is 1% (if the recipient is an individual or HUF) and 2% (for others) on the gross payment Section 194C covers contracts for execution of work, including supply of labour and specified services such as advertising, broadcasting, carriage of goods, and catering
- Section 194C TDS on Contractors - Rates of TDS - Teachoo
As per section 194C TDS is to be deducted on Contractors at 1% in case of (Individual HUF) and Single Contract at 2% on (Partnership Companies) However, No TDS is to be deducted if annual expense is upto 100000 p a or upto 30000 single Contract per annum
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