Tds
This query is : Resolved
20 May 2013
WHAT IS MEANING OF CONTRACT U/S 194C OF INCOME TAX? DOES MATERIAL ALSO INCLUDE UNDER CONTRACT OR NOT?
20 May 2013
Section 194C covers payment to contractor for carrying out any work in pursuance of any contract. So, here contract is restricted to only work contract. Material is also included in contract, only if it is a combined contract without any separate bifurcation.
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