20 December 2007
If the labour charges paid during the year by a construction firm is Rs.50lacs & above.Wat would be the Tax implication & what are the documents to be maintained.Pls reply
20 December 2007
Labour charges is allowed as an expenditure. However, we have to consider TDS if the charges are paid to Contractors. Payment to contractors are liable for tax deduction.
20 December 2007
Sec 194C will be applicable, document in relation of every contract for laboured hired will be taken. if any labour are taken for pay roll then sec 192 for salary will hit.
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