TDS

This query is : Resolved 

20 August 2010 Tds on contractors is 2% but in some companies it is deducted at 10%. If the payment exceeds 1cr surcharge & education cess are applicable or not. plz clarify

20 August 2010 TDS u/s 194C w. e. f. 01.10.2009 on individuals @ 1% flat and companies and firms - 2%. Same rate for any amount of payment.

20 August 2010 TDS on contractors under section 194 C is :

1 % for Individual & HUF

2 % for others.

Surcharge & Education cess is not applicable irrespective of any amount of payment made.


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