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TDS is to be deducted under DVAT in case amount paid is more than 20000
At the time of Payment or
credit which ever is earlier
Note:- No TDS on advance payment made to the contractor or sub-contractor.
Rate of TDS
- In case of Payment to Registered Contractor-4%
- In case of Payment to Unregistered Contractor-6%
Procedure to be followed by Deductor (Contractee) deducting TDS
- He has to get himself registered under DVAT as TAN Holder(Tax Deduction Account No Holder) in FormDVAT 44
- He has to deduct TDS on bill or payment which ever is earlier and deposit by 15th of Next Month
- For Depositing Tax, he has to use
- In case of Late Payment 15% p.a Interest is applicable
- He has to fill TDS Return under DVAT in form DVAT 48
- Penaly for late filing of TDS Return is 200 per day
TDS Certificates
- He has to issue Certificate to Deductor in Form DVAT 43
How many Copies of TDS Certificates to be issued?
View Answer- First and Second copy to be issued to Deductee (Contractor whose TDS Deducted)
- Third Copy-To be attached with TDS Return
- Fourth Copy-Deductor Ccopy
