WebAug 22, 2024 · Section 194C is applicable since the invoice value against the job work exceeds rs 30,000. TDS rate will be 1% as the contractor is an individual. TDS will be … Section 194C states that any person responsible for paying any sum to the resident contractor for carrying out any work (including the supply of labor), in pursuance of a contract between the contractor and the following: 1. The Central Government or any State Government 2. Any local authority 3. Any corporation … See more The expression, “work” in this section would include- 1. Advertising 2. Broadcasting and telecasting including production of programs for such broadcasting or … See more A “sub-contractor” would mean any person: 1. Who enters into a contract with the contractor for carrying out, or 2. For the supply of labor for carrying out the whole … See more As per the provisions of Income Tax Act, any person (being a contractor and not being an individual or a Hindu Undivided Family): 1. responsible for paying any … See more
Payments to contractors
WebJun 15, 2024 · Section 194C deals with the provisions for tax deduction at source at the time of payment to contractors/sub-contractors. This section says that any person who … Web‘194C. Payments to contractors and sub-contractors.— (1) Any person responsible for paying any sum to any resident (hereinafter in this section referred to as the contractor) for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and— cannot connect to hotspot iphone
What is Section 94A of Income Tax Act? Deductions Under Sec 94A - …
Websection 94c income tax act. C: Advertisement code for Investment Advisers (IA) and Research Analysts (RA) H: Transportation of goods - Documents to be carried in physical … WebApr 13, 2024 · Section 194C of the Income Tax Act, stipulates that tax must be deposited within a specified time frame, depending on who the payer is. The time limits specified are … Webfrom Income Tax Department web-site (www.incometaxindia.gov.in) prior to depositing TDS/TCS. iii. Use separate challans to deposit tax deducted under each section and indicate the correct nature of payment code in the relevant column in the challan. (For example, 94C for payment to contractors and sub-contractors, 94I for rent. fj cruiser bumper black