TDS rate

This query is : Resolved

L KANAGARAJ (Querist)
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07 November 2009 Sirs,

Kindly clarify the doubts regarding TDS rate under194-C.

We have some job workers, in the name of e.g. XYZ industries. (Proprietor)

They are having TIN No.

But their PAN in the name of Individual.
So, what rate of TDS will apply whether 1% (as individual) or 2% (as TIN registered company)

please explain

thanks

CA Suresh Choudhary

CA Suresh Choudhary (Expert)
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07 November 2009 If you are making payment to individual/HUF as such then the TDS rate will be 1% otherwise the rate will be 2%.

In your case it seems you are making the payment to XYZ Inndustries (Reg Company) so Rate applicable will be 2%

Rajkumar Maheshwari

Rajkumar Maheshwari (Expert)
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07 November 2009 I am not agree with Mr. Suresh Ji Choudhary Comment.

In this case 1% TDS will be Deduct after 01.10.2009. Because it seems that Xyz Industries is a Proprietor Ship Firm [ Not Partner Ship Firm ] & Return will be filed in the name of Proprietor, then TDS will also be Deduct as Individual Catagory.

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