Tds

TDS needs to be deducted under section 194C. However, if amount is less than 30000, it is not required subject to maximum payment of 75000 in full year.

TDS rate would be 1% for payment to individual / huf.. and 2% for any other payee.

dear sir

if a pharma firm has done a contract with principal investigator (a medical professional working in a university) for a drug trial and pays fees to university (as per research policy of institute) after 10% TDS deduction, and now when university pays (distributes) the share (50% according to university policy) to principal investigator, does the university liable to deduct 10% TDS again for that 50% share of the payment received ?