Tds under 194c

This discussion clarifies TDS (Tax Deducted at Source) obligations under Section 194C for car servicing bills. If a single bill for car servicing exceeds £30,000, TDS deduction is mandatory, even without a formal contract. The deduction rate is 1% for individuals/sole proprietors and 2% for companies/firms. Remember to check if the bill segregates parts and labour, and note that a 20% TDS rate applies if PAN is not provided.