Tds on contractors - payment to firm

Manoj Yadav (Querist) 16 December 2011 This query is : Resolved
1. There are two category - a) Individual & HUF- 1%
& b) Company & others- 2%
Now the firm wil be counted in which category & rate ?

2. While depositing tax, the Firm should counted as Company or Non- Company Category ?

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YOGESH NARANG (Expert) 16 December 2011
yes, there are two categories a) Individual & HUF- 1%
& b) Company & others- 2%

firm will be counted in 2 category

firm should be counted as non company category, because there is diff. between partnership firm and company

Raj Kumar Makkad (Expert) 16 December 2011
I do agree with Narang.

Guest (Expert) 18 December 2011
Individual means a single natural person and HUF consists of a group of natural persons. Firm is neither an individual, nor an HUF. So, it falls within 2nd category with 2%.

Shailesh Kr. Shah (Expert) 18 December 2011
Now the firm wil be counted in which category & rate ?
Ans:Company & others

While depositing tax, the Firm should counted as Company or Non- Company Category ?
Ans:Non- Company

Sadashiv Rupchand Gaikwad (Expert) 20 December 2011
This is the Main Question regarding deposit TDS challan. In the ITNS 280 "Company Deductee|" means only those register under Company Act.The Fourth alphabet in PAN should "C". Separate challan is to be used for Payment of Both company and non company assessee.TDS is to be deposit by Deductor.