Whether tds to be deducted 1% or 2%

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elangovan (Querist)
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15 May 2012 i came across a situation wherein i didn't know whether Tds to be deducted at 1% or 2%,

a contractor (say ABC enterprises) managed by a proprietor, For services rendered by him whether TDS is applicable at 1% or 2%.

Whether situation will change in case the business has separate registration/

Thanks in advance

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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15 May 2012 The rate for TDS under section 194C are-
Individual / HUF Deductees - 1%
Other Deductees - 2%

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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15 May 2012 If the service provider provides PAN of the individual then TDS @ 1%.

If he provides PAN of the business (not an individual) then 2%.

CA PRAVEEN SINGH

CA PRAVEEN SINGH (Expert)
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15 May 2012 AGREE WITH ABOVE EXPERTS...

YOU CAN IDENTIFY IN DEDUCTEE PAN NO..

WHETHER,INDIVIDUAL/HUF/FIRM/CO.

elangovan

elangovan (Querist)
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15 May 2012 thanks for your time and expertise

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