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TDS rate

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(Querist)
15 October 2009 What is the rate of TDS U/s 194 C if Deductor is Proprietor

and Deductee is proprietor

and Deductee is company or partnership



Thanks in Advance
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
15 October 2009 Rate will be 1% for Individual/HUF and 2 % for other type of deductees and it not depends on type of deductors.

However in case of proprietor i.e individual : he has to deduct TDS under Sec 194C if he is liable to TAX AUDIT under sec 44AB in immediately preceding financial year and payments are made to contractors for business purpose.
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Sreedhar Atchutuni ACA,GradCWA

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Sreedhar Atchutuni ACA,GradCWA (Expert)
15 October 2009 Agree with Mr. Sanjay
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
15 October 2009 Refer my file on TDS rates too
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
16 October 2009 agree with experts

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