17 January 2015
Yes TDS will be applicable u/s. 194C (TDS on contract payment.) if amount paid or payable during the year exceed Rs.75000 or single bill/payment exceed Rs.30000.
Rate: 1% if payee is individual or HUF, and 2% in case of any other payee (other than individual / HUF)
17 January 2015
tds will be deducted u/s 194C as section if single bill above rs. 30000.- and in year rs.75000.- bill is received tehhen tds will applicable on individual @ 1% and on firm and company @ 2%
CAclubindia
