TDS ON MAINTENANCE CHARGES

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azad

azad (Querist)
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05 October 2009 DEAR SIR ,

I WANT TO KNOW THAT IS TDS DEDUCTED ON MAINTENANCE PAYMENT

Shyam Lal Naik

Shyam Lal Naik (Expert)
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05 October 2009 Sir,

Maintenance contract are covered under section 194C. With effect from 01.10.2009, two rates have been prescribed depending on the assessable status of the deductee. These are

1. if the payee is indivisual/HUF - 1%
2. In any other case - 2%

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