Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2014 My Client are a partnership firm and works as a work Contactor. They have paid labour chg 2.5 crore approx. during the fy 2013-14 without deducting tds U/s 194C. In this connection I have also mentioned that they have not any TAN and will be assessed u/s 44AB . Is there any way to labour chg of Rs. 2.5 crores as allowable expenses? I will get benefit u/s 201(1) of IT act.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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29 August 2014 If your client is an Individual and Tax Audit was not applicable to him in FY 2012-13 then he is not responsible for deduction of Tax at Source for the FY 2013-14.