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Answer Posted / deivasigamani
Normally companies have been deducting TDS based on the
transaction applicable to TDS. Here is the details
Contractor - 2% for Company 1% for Individual
Professional - 10%
Rent for Building- 10%
Transportation for Cab alone not goods carrier - 2%
Rent for Hiring machinery - 2%
Interest - 10%
Commission -10%
Note :
If the party has not provided PAN # then 20% has to be
deducted from their bills
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