194C

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Pallavi Jain (Querist)
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29 December 2009 If an assessee is giving printing contract with his specifications and also supplying material. will TDS applicable according to new provisions? Is there any ner circualr related to it?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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29 December 2009 If material cost and labour charges are seperately shown in the invoice, then income tax is to be deducted on the labour charges component only. There is no circular to this effect. The section(194C) substituted through the Finance (No.2) Bill,2009 is very clear on the matter referrred by you.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 December 2009 Yes if the labour charges shown separatly we need to deduct TDS on the labour portion

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