TDS whether 2.06% or 2.266%

This query is : Resolved

Narendran (Querist)
Follow

28 January 2009 Dear sir,

we are 100 crores turnover construction company. we were enter an agreement for security services with a Security services private limited company and we are making average monthly payment around Rs 4 to 5 Lacs.

Now my question is what TDS rate to be applicable to them either 2.06% or 2.266% u/s 194C of IT Act 1961.

Pls clarify

CA R N Mohil

CA R N Mohil (Expert)
Follow

28 January 2009 If aggreagate payment to the recipient ( security company being a Domestic Company ) for the Asst year exceeds Rs 1 crore TDS need to be deducted @2.266% otherwise it Is to be @ 2.206%

CA R N Mohil

CA R N Mohil (Expert)
Follow

28 January 2009 If aggreagate payment to the recipient (security company being a Domestic Company ) for the Asst year exceeds Rs 1 crore TDS need to be deducted @2.266% otherwise it Is to be @ 2.206%