TaxTMI 
TaxTMI 
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.
chakravarthy.s.n.
194 c of income tax
24 Feb 2013 
3 Replies 
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TDS on contract payments: deduction rate depends on payee status; deduct at payment or credit and verify deductee.
Section 194C requires deduction of tax at source on contract payments at differing rates depending on whether the payee is an individual or HUF or is some other person; the duty to deduct arises on payment or when the amount is credited, and the deductor must verify the deductee's legal status before applying the appropriate rate. (AI Summary)
Section 194C requires deduction of tax at source on contract payments at differing rates depending on whether the payee is an individual or HUF or is some other person; the duty to deduct arises on payment or when the amount is credited, and the deductor must verify the deductee's legal status before applying the appropriate rate. (AI Summary)