Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Query tds under section 194 c

Amit Mundra (ACCOUNT OFFICER) (66 Points)

02 March 2017

Dear All My company have contract with a propratier firm for providing mess services to the students and employees of the company. How much TDS is deduct from monthly bill.

Reply
Follow
Share

16 Replies

vamsi krishna (article student) (280 Points)
Replied 02 March 2017

TDS to be deducted as per 194 C i.e 1 / 2% based on individual / company ..

(Guest)

AS PER 194C 2% FOR COMPANY AND 1% FOR INDIVISIBLE AND HUF

Amit Mundra (ACCOUNT OFFICER) (66 Points)
Replied 02 March 2017

Dear Samir Thanks for reply but i am still confuse. regarding meaning of firm. firm means partnership firm or propretiar firm

Amit Mundra (ACCOUNT OFFICER) (66 Points)
Replied 02 March 2017

Dear Samir Thanks for reply but i am still confuse. regarding meaning of firm. firm means partnership firm or propretiar firm

(Guest)

partnership

read income tax act sec 2

(Guest)

partnership

read income tax act sec 2

sivaram (Sr. Accounts Executive) (104 Points)
Replied 02 March 2017

Best idea is if deductee PAN no containing 4th Digit "P" you have to deduct 1% in all other cases you have to deduct 2%

2 Like

Syed Zaheer (2 Points)
Replied 03 March 2017

If your company is providing any professional service then the tds to be deducted under 194 j @ 10%

Vaibhav Sharma (8 Points)
Replied 03 March 2017

Hey Amit !
1% for INDIV
2% to Other entity.

Further Let me Clarify That The above rates are Only When the PAN is quoted By deductee..
Failing Which can make it 20%

Vaibhav Sharma (8 Points)
Replied 03 March 2017

Further I would Like you to know That you Dont Need to deduct TDS u/s 194C if amnt paid Does not Exceed ₹30000(at a go) + Aggregate of FY does not exceed ₹1L .