Incometax -tds

samrat (business) (159 Points)

27 December 2016  

If a builder gives a subcontract for completing slabs and if the payement to subcontractor is around 9 lac in a year does the builder requires to deduct tds of the subcontractor @ 1%? The builder has newly started construction and is not required to get their tax audit conducted under sec 44 AB.

Secondly  for  deduction  of  TDS by  a builder  a  separate  name  must  be  given  by  a  builder    to  its business  for  TAN  ?

Please  give  your  valuable  advice .  Thanks  a  lot.