Can anyone send me the new clarification regarding CONTRACTS AS PER SPECIFICATIONS u/s 194 C ... Thank you
2 Replies
CA Punit GoSwaMi
(Chartered Accountant)
(310 Points)
Replied 18 May 2010
TDS to b deducted @ 1% to individual, Huf, and 2% to others ( Receiver han)
Gopal G
(CA Final )
(44 Points)
Replied 18 May 2010
Contract to transporter, who has provided a valid PAN - no TDS, if not it should be 20% ( or actual, whichever is higher)
Contracts to Individuals/HUF it is 1%
Contracts to others it is 2%
for more detail.
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