1%. Since firm is propritership.
Query tds under section 194 c
Page no : 2
CA CMA Sagar Jaiswal
(Finance professional)
(665 Points)
Replied 06 March 2017
as u said ur company contracted with proprietor firm then it is clear his pan includes "p" in 4th digit.
tds rate for 194c is
1% for Individual and HUF(4th digit will only "P" "H")
& 2% for other than Individual & HUF(means it inclues company,firm,.4th digit of pan will be "C" "F" "T" "A" etc)
i think it will clear u
Thanks
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