WebUnder Section 194C, income tax is deducted at the following TDS rates: 1% on a payment made to resident individual or HUF. 2% on a payment made to any resident person, except an individual or HUF. Zero TDS on transporters. 20% TDS if the payee has not quoted PAN. Web13 Apr 2024 · 30% for residents, 40% for non-. residents, 25% for individuals & HUF. 30% for residents, 40% for non-. residents, 25% for individuals & HUF. 194LC. Income by way of interest by an Indian specified company to a non- resident/foreign company on foreign currency approved loan/long-term. infrastructure bond ‘from outside India.
TDS Rate Chart AY 2024-25 (FY 2024-24) - thetaxtalk.com
Web13 Apr 2024 · Section 194C of the Income Tax Act deals with the tax deducted at source (TDS) that is to be compulsorily deducted from any payments that have been made to any person who is a resident contractor or a subcontractor. In other words, it encompasses all persons who have paid a resident contractor or subcontractor to carry out any kind of work. Web22 Jun 2024 · As per section 194C, if the assessment officer is satisfied that the total income of the contractor or sub-contractor asserts the deduction of income tax at a lower rate or no deduction of income tax, he can offer lower rates or full rebate. The contractor or subcontractor can then furnish the lower rate or nil TDS certificates to the deductor. symphony z47 price in bangladesh 2022
Section 194C – TDS on Contractor, TDS rate, No tax deductible, …
Web3 Jan 2024 · TDS on payment to contractors Under Section 194C: Any person responsible for paying to any of the contractor for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract shall, at the time of credit of such sum to the account of the contractor or at the time of payment thereof in cash or by issue of a … Web11 Jun 2024 · Section 194C provides for TDS to be deducted on payment made to advertising agencies. TDS on advertisement agencies is required to be deducted under … Web4 Jul 2024 · As per section 194C (5), tax has to be deducted at source where the amount credited or paid or likely to be credited or paid to a contractor or sub-contractor exceeds 30,000 in a single payment or 1,00,000 in aggregate during the financial year. symphony yeovil