Rate of TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 November 2009 As an accountant i have to deduct TDS from the payment to contractor but PAN of contractor is not available so what is the rate of TDS(after 1/10/2009) is applicable ?

Is ther any rate of TDS diff.if it is paid to other than contractor ?

Jagdish Narayan Sawant

Jagdish Narayan Sawant (Expert)
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24 November 2009 rate will be 1% if payment is to be made to individual/huf/society. 2% if payment is to be made to Company/firm

Praveen Sharma

Praveen Sharma (Expert)
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24 November 2009 agree with expert

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Querist : Anonymous

Querist : Anonymous (Querist)

24 November 2009 it means that there is no diff. whethere contractor having PAN card or not ?

chetan soni

chetan soni (Expert)
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24 November 2009 it will not make any difference till 31st March 10. But after that if the transporter does not provide the PAN on the bill or receipt note then you need to deduct the TDS at higher rate i.e 20%.

This amendment is applicable w.e.f 1.4.2010.