Tax Deducted at Source
This query is : Resolved
21 August 2008
a contractor hired machinery for his construction work.he treated this as a subcontract because machinery hired for the purpose of construction and dedut TDS @ 1%.is it possible..?
21 August 2008
It Does not Fall Under The Meaning of Subcontract
21 August 2008
If the contract for hiring machinery is made between Contractor and Sub contractor, and the payment made to sub contractor by contractor, then it is not treated as Sub Contract. But the payment is made by other than contractor who pays to contractor for construction work.
i.e A - Third Party
B - Contractor
C - Sub Contractor
If payment is made to C by A then TDS may be deducted at Sub Contract Rate, if the contract is made between B & C for hiring the Machinery.
Otherwise TDS should be deducted as normal Contract rate.
i.e A - Third Party
B - Contractor
C - Sub Contractor
If payment is made to C by A then TDS may be deducted at Sub Contract Rate, if the contract is made between B & C for hiring the Machinery.
Otherwise TDS should be deducted as normal Contract rate.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Rental income of jointly held property
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
