base of tds

nayanbandekar

can any one suggest me, the worked of camera fitting was carried out at our showroom and bill has been summited to with the parts and installation charges,
:- is it that i have to deduct TDS under head contract ?
:- what are the bases on which the tds are deducted

narayan

aabhi_mane

First, check installation charges are more than Rs. 20000/- in a single bill or total bills raised by the party is crossing Rs. 50000/- in a financial year. If any one of these is taking place, then you have to deduct tds. Now for rate of tds, pl check if the party is a Ind/HUF/Partnersahip firm or not. If yes, then tds will be @1% and if not then it will be @2% without any cess.