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194 M

This query is : Resolved 
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(Querist)
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 ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 October 2019 Yes, consider payments from April 2019.
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Gokul Sharma

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Gokul Sharma (Expert)
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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