Dear all,
I read many topics on the issue " at what rate tds to be deducted from agency charges paid to c & f agents ? "
But i am still confused at what rate it should be deducted and i am not getting any reference from Income tax act.
Can anybody clarify my doubt and give legal reference?
Thanks in advance
Payments made to clearing and forwarding agents for carriage of goods are subjected to deduction of tax at source under section 194C. The rate must be 2% or 1 % as the case may be.
Please refer to question number 6 of circular : No. 715, dated 8-8-1995.
Regards
CAclubindia
