New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What is the rate of TDS to be deducted in payment or

    credit to a resident contractor/sub-contractor other than an individual or a Hindu Undivided Family?
    A 30% Correct Answer Incorrect Answer
    B 5% Correct Answer Incorrect Answer
    C 1% Correct Answer Incorrect Answer
    D 2% Correct Answer Incorrect Answer

    Solution

    The rate of TDS to be deducted in payment or credit to a resident contractor/sub-contractor other than an individual or a Hindu Undivided Family (HUF) is 2%. For an individual or a Hindu Undivided Family (HUF), the TDS rate is 1% in case of payment or credit to a resident contractor/sub-contractor. So, the correct rate of TDS for payment to a resident contractor/sub-contractor other than an individual or HUF is 2%.

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