Search results
Jul 3, 2024 · Section 194C of the Income Tax Act governs tax deductions on payments made to contractors and subcontractors for work contracts. Find out what is section 194c and rate of TDS
Jul 4, 2021 · Important Notes – TDS on Payments to Contractors – u/s 194C (i) The deduction of TDS from payments made to non-resident contractors will be governed by the provisions of section 195. (ii) The deduction of TDS will be made from sums paid for carrying out any work or for supplying labour for carrying out any work.
Jan 10, 2020 · Section 194C of the Income Tax Act states that any person making payment to a resident person, who is carrying out any ‘work’ in terms of the contract between the ‘specified person’ and the resident contractor, is required to deduct TDS.
Jun 28, 2020 · Whether contract for supply of labour shall attract TDS u/s 194C? A.22. Yes, payment made to Calcutta Dock Labour Board for supply of labor for assessee’s business, attracted TDS provisions of section 1 94C Dy.
Jun 15, 2019 · Section 194C covers the TDS that is deducted from specific payments made to contractors and subcontractors. Hence, a proper and detailed understanding of the section is required to avoid future unseen problems in your business. Let us understand further. Contents. What is Section 194C of the Income Tax Act and its applicability?
May 13, 2024 · TDS Section 194C contains provisions with respect to TDS on payment made to resident contractors and sub-contractors. Section 194C is a very important section, and it has wide implications in various business scenarios.
Aug 4, 2021 · As per section 194C (5), tax has to be deducted at source where the amount credited or paid or likely to be credited or paid to a contractor or sub-contractor exceeds 30,000 in a single payment or 1,00,000 in aggregate during the financial year.
