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

[rishi mohan]

Tds shall be deducted by the assessee on the payments made by him to the exhibitors who conduct such exhibitions u/s 194 C of the Income tax Act, 1961 i.e Payments to contractors and sub-contractors.

AI Summary

TDS on payments to exhibitors under 194C must be deducted by the business payer at prescribed rates and frequency. Payments by a business to exhibitors who conduct exhibitions are to be subject to TDS as payments to contractors or sub contractors; the payer must deduct tax at source at the rates and in the manner prescribed for contractor payments when making such payments.