any monetary limit for tds dedication
like 30000 par transporter par year .pls help
Section 194C of the Income Tax Act, 1961 states that any payment to a transporter is subject to a Tax Deduction at Source (TDS) at the rate of:
1% in case if the payee is an Individual or a Hindu Undivided Family, and
2% in case of other payees (i.e. partnership firm, company, trust, body of individuals or association of persons)
In case, if such payment exceeds Rs. 30,000 per contract or aggregate of such payments of contracts in a financial year exceeds Rs. 100,000
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