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Taxes applicable for with material contracts

VAT (Legacy) 449 views 2 replies

Dear Sir/Madam,

I am in construction bussiness, I awarded a contract to individual person for flooring works, he is supplying materials and labour, can anyone please tell me what taxes applicable for both persons.

 Thanking you

Ramesh

Replies (2)
You need to deduct TDS under section 194C at the rate of 2.266% (Since your providing contract to individual, he is the direct contractor to you).
tds under 194c should be 2.06%


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