TDS on Loading nd Unloading contractor

[Mathurthi RamKumar]

Dear All,

Greetings of the day..

Kindly guide me for TDS on Loading & Unloading contractor work. We purchase biomass products from various factories and for loading and unloading oral contract given to person. He submitting bill with pan no.(PAN status partnership firm). I want to now weather TDS is applicable for this.

Regards

M.RamKumar

[Ganeshan Kalyani]

In my view TDS is deductible @1% if the amount paid to the contractor exceeds 75 K in a year or if a single bill exceeds 30K. Oral agreement is a contract.

AI Summary

TDS Applicable on Payments to Loading Contractor: 1% Deduction if Annual Total > 75,000 INR or Single Bill > 30,000 INR A participant inquired about the applicability of Tax Deducted at Source (TDS) on payments to a loading and unloading contractor, who operates under an oral contract and submits bills with a PAN number as a partnership firm. The response indicated that TDS should be deducted at a rate of 1% if the total annual payment to the contractor exceeds 75,000 INR or if a single bill exceeds 30,000 INR, noting that an oral agreement constitutes a valid contract.