16 June 2012
The available data is not sufficient for the decision. The solution is on assumption basis,Contract value more than 30000/- per contract or 75,000/- during the year. Then TDS rate For individual /HUF - 1% For firms/ AOP - 2% Domestic Companies-2%
All the amount which is paid under the contract, the TDS amount is accordingly deducted on the aggregate amount.