Hi.. Am joining a reputed MNC on a direct contract position. They have specified that Tax at source will be deducted as per IT rules for Independent consultants. Can you pls share the percentage that will be deducted from my consolidated salary on a monthly basis.
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Tds for independent consultant
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If you are on contract, you shall be receiving professional fees and shall be subjected to TDS u/s 194J. You may read the appointment letter to check whether you are getting professional fees or salary.
TDS should be deducted at 10% under 194J
Check terms of employment mentioned in appointment letter
They r right
10% tds on services
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