Hi every one ,
Kindly Suggest me....
As per 194C TDS will be deducted 1% for IND/HUF 2 % others Take eg as : Company
For 2 % Deduction Deductee( Vendor) Should be Company or Deductor ( Who is deducting TDS) Should becompany ?
Ranju
8 Replies
Pallavi
(PCA)
(95 Points)
Replied 13 December 2012
Hi..
The status of deductee is to be looked for applying rate of 1% or 2%. If the deductee is Individual or HUF TDS @ 1% has to be deducted, in other cases deduction will be @ 2% i.e. in case of company firm etc.
Anuj jain
(CA Final Student)
(163 Points)
Replied 13 December 2012
As per sec 194C payment to contractor/sub-contracter, if deductee is a company then the deductor is liable to deduct TDS @ 2%.
Hence, deductee should be company.
CA rahul
(BCOM(H) ACA)
(725 Points)
Replied 13 December 2012
As per provision of sec 194 C status of deductee to be checked while applying the rate of 1% or 2%.as the case may be
1 . 1% if deductee is individual/ Huf
2 2% in other case.
As per 194C TDS will be deducted 1% for IND/HUF 2 % others Take eg as : Company
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
As per 194C TDS will be deducted 1% for IND/HUF 2 % others Take eg as : Company
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
As per 194C TDS will be deducted 1% for IND/HUF 2 % others Take eg as : Company
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
As per 194C TDS will be deducted 1% for IND/HUF 2 % others Take eg as : Company
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
As per 194C TDS will be deducted 1% for IND/HUF 2 % others Take eg as : Company
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
Read more at: /forum/contract-231053.asp#.UMoNzmeri9s
Sonu Kumar
(Account Manager)
(665 Points)
Replied 14 December 2012
we Should Check the Status of Deductee
Ramanuj
(Accountant.)
(834 Points)
Replied 14 December 2012
As per sec 194C payment to contractor/sub-contracter, if deductee is a company then the deductor is liable to deduct TDS @ 2%. Hence, deductee should be company.
Read more at: /forum/contract-231053.asp#.UMrHc6zM_0E
As per sec 194C payment to contractor/sub-contracter, if deductee is a company then the deductor is liable to deduct TDS @ 2%. Hence, deductee should be company.Read more at: /forum/contract-231053.asp#.UMrHc6zM_0E
Read more at: /forum/contract-231053.asp#.UMrHc6zM_0Ea
I Think, As per Section u/s 194C Fist of all Should be check Deductee pan no. have company or other then company & partner after that take action accountding to pan.
If Deductee is Individual/HUF TDS will be Deducted 1 %
If Deductee is other then above TDS will be Deducted 2%
Thanks
Vicky Singh
(CA)
(68 Points)
Replied 14 December 2012
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geetha
(student)
(414 Points)
Replied 14 December 2012
The party Name with Whom u have Contract should be seen , If its Individual/ HUF- Deduct - 1%
If Its Company deduct - 2 % . Check With the Pan no's .
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