31 March 2012
Sir, TDS rate applicable u/s 194 C is 1% and 2% if we have to make payment to indl./HUF and others respectively. We have to deduct TDS from payments to be made to AOP/BOI. In the PAN No. of the AOP/BOI fourth alphabet is 'P' which is normally being allotted to Individuals. Whether we should deduct TDS @ 1% or 2%? Please suggest.
CAclubindia
