CASH WITHDRAWAL FOR LABORERS AT KEDAR NATH
This query is : Resolved
03 June 2022
The assessee has a contract to supply material to ongoing repair works at Kedarnath. The daily Payments to laborers is 500,000 (Approx) in cash ranging from 500 to 800 persons & mules per day.As the people don't have bank accounts the payment is to be made in cash only.
The cash is being withdrawn from bank & tds being deducted thereon.
Can the tds be waived by the Income tax as the cash payment is inevitable due to remote area and other reasons
Also will Income tax leavy any penalty towards cash payments
The cash is being withdrawn from bank & tds being deducted thereon.
Can the tds be waived by the Income tax as the cash payment is inevitable due to remote area and other reasons
Also will Income tax leavy any penalty towards cash payments
CA R SEETHARAMAN
(Expert)
03 June 2022
Claim TDS and adjust it against tax payable.
No penalty as cash payment not exceeded the limit per day per person of Rs 10,000.
No penalty as cash payment not exceeded the limit per day per person of Rs 10,000.
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