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.
CAclubindia
