Interplay of sections 194C and 40 (a)(ia) of IT Act

Section 194C of the Income Tax Act requires any person (called contractee) who is paying any sum to a resident contractor for carrying out any work (including supply of labour for carrying out work) in pursuance of a contract between the contractee and the contractor to deduct the tax at the specified rates at the time of either payment (through any mode including cash) or at the time of credit of such sum to the account of the contractor.Section 194C of the Income Tax Act requires any person (called contractee) who is paying any sum to a resident contractor for carrying out any work (including supply of labour for carrying out work) in pursuance of a contract between the contractee and the contractor to deduct the tax at the specified rates at the time of either payment (through any mode including cash) or at the time of credit of such sum to the account of the contractor.taxmann.com Latest ArticlesRead More

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