TDS RATE FOR CONTACTOR

What is the tax rate deduct contractors from April 2021
Replies (3)
Quick Summary
From April 2021, the TDS (Tax Deducted at Source) rate for contractors has been updated. Individuals and HUFs are subject to a 1% TDS rate, while other types of contractors will have a 2% TDS rate applied. These rates are in accordance with Section 194C of the Income Tax Act.

1% for individual contractor

2% on other than individual contractor

As per sec 194C, @ 1% in case of individual/HUF deductees; @ 2% in case of others.
Agree with poornima

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