What is the TDS Applicable for Job Workers ?is there is any diference between contractors and Job Workers?

Question

What is the TDS Applicable for Job Workers ?is there is any diference between contractors and Job Workers?

Answer 1

For the current TDS rates in India, and more information about TDS deduction and filing, read http://mytaxes.in/index.php?topic=8.0

Answer 2

The application is called 16A. The difference between the two is of percentage of cutting tds.

Nothing special.

Answer from:

www.sharetips.99k.org

Answer 3

Job workers are otherwise treated as Sub-Contractors and they are eligible for TDS deduction under section 194C.

If the total payment on Job Work to a particular contractor, in a year exceeds Rs.50,000/- or a single bill exceeds Rs. 20,000/- then the deduction of TDS is applicable.  If the total turnover is less than Rs.50,000/- and there is no such bills having Rs. 20000/-+ in a single transaction, then there is no need of deducting the TDS.

And what Mr. S. Surendran said is about Form 16A which is a certificate issued to the Sub-Contractors by the deductor, with the details of TDS deduction and Payments made thereof.

Answer 4

Job worker has to be treated as a contractor for income tax purposes.

Hence Section 194 C squarely applies and deduction of TDS has to be affected