11 February 2011
Hi, Our party uses the cold stores of storing fruits, for that we make them payment after deducting TDS @2% because we conclude that we are using their plant & machinery.so tell me weather our assumption right or wrong.could be deduct TDS @10%?
11 February 2011
TDS @ 1%/2% u/s 194C is applicable. It is clarified by the department through CIRCULAR NO. 1/2008, DATED 10-1-2008. No need to deduct TDS @ 10%.
CAclubindia
