Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 August 2014
My Client are a partnership firm and works as a work Contactor. They have paid labour chg 2.5 crore approx. during the fy 2013-14 without deducting tds U/s 194C. In this connection I have also mentioned that they have not any TAN and will be assessed u/s 44AB . Is there any way to labour chg of Rs. 2.5 crores as allowable expenses? I will get benefit u/s 201(1) of IT act.
29 August 2014
If your client is an Individual and Tax Audit was not applicable to him in FY 2012-13 then he is not responsible for deduction of Tax at Source for the FY 2013-14.
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