31 January 2011
Rent is covered u/s 194 I of the Income Tax and The Tax is required to be deducted where amount paid exceed 120000/- during financial year.The rate is rate is:
Rent of P & M 2% Others 10%
Contractual Business is covered u/s 194C of the IT Act. The Tax is required to be deducted where amount paid exceed 30000/- in a single payment or Rs. 75000/- in the aggregate during financial year.The rate is
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