we are 100 crores turnover construction company. we were enter an agreement for security services with a Security services private limited company and we are making average monthly payment around Rs 4 to 5 Lacs.
Now my question is what TDS rate to be applicable to them either 2.06% or 2.266% u/s 194C of IT Act 1961.
28 January 2009
If aggreagate payment to the recipient ( security company being a Domestic Company ) for the Asst year exceeds Rs 1 crore TDS need to be deducted @2.266% otherwise it Is to be @ 2.206%
28 January 2009
If aggreagate payment to the recipient (security company being a Domestic Company ) for the Asst year exceeds Rs 1 crore TDS need to be deducted @2.266% otherwise it Is to be @ 2.206%
CAclubindia
