Tds information

if you have signed a contract with the contractee then tds will be deducted as per section 194C @ 1% for HUF and individuals and 2% for others i.e; tds will be deducted if a single bill is in excess of 30,000 or aggregate amount of all the bills put together is in excess of 75,000 in a financial year

Dear Keyur,

I agree with Anupama's answer. You also remember that this limit is party or person wise.

i want to know about the sec. 194 of income tax act.

ASSESSMENT YEAR 12-13)