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Tds on contract section 194c
While making payment to individuals or huf it is 1 percent and 2 percent for other than individuals or huf can a company deduct 2 peecent while making payment to individual
Replies (5)
As per Income tax & TDS provisions Tds will be deductible @ 1% u/s 194C for Individual...
As per section it is 1% for individual.
But more is always welcome by I T Department.
If you wish more to be deducted then no issues.
Or if Company insist on deducting more than 1% , you can decline / refuse and say that TDS is 1% only as per tax provisions.
But more is always welcome by I T Department.
If you wish more to be deducted then no issues.
Or if Company insist on deducting more than 1% , you can decline / refuse and say that TDS is 1% only as per tax provisions.
Section 194c payment to contract
Nilesh , you are new member joined on 22nd Jan
welcome to Forum
Please reply carefully.
welcome to Forum
Please reply carefully.
Yes it deduct but for compliance it mandatory to deduct only 1%
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