05 November 2016
My friend has a proprietorship firm. he has deducted tds on Interest from NBFC@10%. The NBFC is a Company and the deductor is an individual. Which code to be selected 020 or 021 while making tds payment in challan 281. Please advice urgently. I hope it should be 020 since the deductee is a company. Kindly clarify
06 November 2016
Yes, you have to choose 020 company, this code based on Deductee,IF LTD Used. Than you have to choose company, other than LTD you have to choose non companies.
There is no much significance TDS 194C can be adjusted with any section and even code.
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