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Query tds under section 194 c
TDS to be deducted as per 194 C i.e 1 / 2% based on individual / company ..
AS PER 194C 2% FOR COMPANY AND 1% FOR INDIVISIBLE AND HUF
Dear Samir Thanks for reply but i am still confuse. regarding meaning of firm. firm means partnership firm or propretiar firm
Dear Samir Thanks for reply but i am still confuse. regarding meaning of firm. firm means partnership firm or propretiar firm
partnership
read income tax act sec 2
partnership
read income tax act sec 2
Best idea is if deductee PAN no containing 4th Digit "P" you have to deduct 1% in all other cases you have to deduct 2%
If your company is providing any professional service then the tds to be deducted under 194 j @ 10%
1% for INDIV
2% to Other entity.
Further Let me Clarify That The above rates are Only When the PAN is quoted By deductee..
Failing Which can make it 20%
IT IS DEPEND UPON THE BILL U GET IF IN THE BILL MENTION
FOOD SALES JUST LIKE HOTEL BILL THEN TDS NOT APPLICABLE
IF BILL FOR SERVICE GIVEN THEN TDS IS APPICABLE
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