We hire a travel agency named"New Bhawani travel" for a year.New bhawani is registered as individual firm.He has No pan number in the name of firm.He has Pan in the name of his proprietor.We paid Rs.37000 and deducted TDS @2% (194 C).But new bhawani object about deduction of 2% TDS.
So i want to know which tds rate is applicable. 1% or 2%
CAclubindia
