194 M
This query is : Resolved
05 October 2019
A non business person making payments to a resident contractor for the construction of his house.
From April 2019 onward his total payments amount to 60 Lakh and after 1st September only 20 Lakh.
194 M applicable to entire amount ?
194 M applicable from 1-9-2019. Whether we need to consider payments from April 1 onward ?
From April 2019 onward his total payments amount to 60 Lakh and after 1st September only 20 Lakh.
194 M applicable to entire amount ?
194 M applicable from 1-9-2019. Whether we need to consider payments from April 1 onward ?
05 October 2019
Yes, consider payments from April 2019.
05 October 2019
The requirement to deduct tax would arise only when the payment exceeds Rs 50 lakh in a financial year.
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