06 September 2009
A) In case of all contractors (except goods transport contractors)
i) Payee = Individual or HUF = TDS = 1% ii) Payee = Firm or domestic company = TDS = 2%
B)Goods transport contractors = Nil
Note: With effect from 01/04/10, if PAN is not furnished by the deductee or if the PAN furnished is incorrect or invalid, tax will have to be deducted @ 20%.
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