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212 Points
Joined March 2009
Hi Vinay
It falls under Section 194 C and will subject to TDS if Payment is in excess of rs. 20,000 per contract OR Rs. 50,000 per annum.
if the recepient is a Company then TDS will be deducted at the rate of 2.266%
If the recepient is an individual and HUF and Payment exceeds Rs. 10 lacs Per annum 2.266%
If the recepient is an individual and HUF and Payment does not exceeds Rs. 10 lacs Per annum 2.06%
Hope you will find this helpful.
Regards
Vijay Kumar