TMI Blog194 c of income taxX X X X Extracts X X X X X X X X Extracts X X X X ..... dear sir , i would like to know the provisions of section 194C of Income Tax Act .whats the percentage of income tax for individual contractors and the firms doing the contract works. chakravar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thy.s.n. - Reply By Akash mahajan - The Reply = Hello sid, Tds in case of an individual and huf is 1% and for any other person, which includes your FIRMS, is 2%. - Reply By AMIT JAI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N, Advocate - The Reply = Dear Friend section 194C of I.T Act says about TDS rate. which is in the case of Individual HUF is 1% but other than Individual HUF is 2% . Thanks Regards - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply By rinki todi - The Reply = TDS is to be deducted as follows: @ 1% when the contract payment is being made or credit is being given to an individual or an HUF @ 2% when the contract payme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt is being made or credit is being given to any person other than an individual or an HUF. Point to be noted: we have to check the status of deductee and not the deductor. - 194 c of income ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x - Query Started By: - sid chakravarthy Dated:- 24-2-2013 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndia - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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