RATE AT WHICH TDS TO BE DEDUCTED

[KAILASH ASAWA]

ASSESEE DOING JEWELLERY BUSINESS. HE PARTICIPATES IN EXHIBHITIONS AT HOTELS AND OTHER PLACES. WHAT IS THE RATE OF TDS TO BE DEDCUTED BY THE ASSESSE ON THE PAYMENTS MADE BY HIM TO THE EXHIBHITORS WHO CONDUCT SUCH EXHIBHITIONS. UNDER WHICH SECTION THY FALL. WHETHER THEY FALL UNDER 194C OR SOME OTHER SECTION

AI Summary

Jewelry Exhibitor's TDS Rate Clarified: Payments to Exhibitors Fall Under Section 194C of Income Tax Act. An individual involved in the jewelry business, who participates in exhibitions at hotels and other venues, inquired about the appropriate rate of Tax Deducted at Source (TDS) applicable to payments made to exhibitors. The response clarified that TDS should be deducted under Section 194C of the Income Tax Act, 1961, which pertains to payments made to contractors and sub-contractors.