Any person being an individual or a HUF (other than those who are not required to deduct tax under section 194C or 194H or 194J) paying any sum to any resident contractor or professional required to deduct tax at source

CS Executive · Tax Laws and Practice · PYQS · December 2020
Any person being an individual or a HUF (other than those who are not required to deduct tax under section 194C or 194H or 194J) paying any sum to any resident contractor or professional required to deduct tax at source under section 194M at the rate of ______ if aggregate payment during the year exceeds ______.
(A) 10%, 20 lakh
(B) 5%, 20 lakh
(C) 5%, 50 lakh
(D) 10%, 50 lakh

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Tax Deducted at Source (TDS)

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