Tds 194c-two contracts with same party
This query is : Resolved
Ankit Parashar
(Querist)
16 May 2016
I have a 2 contracts with same party. One for Repair & Maintenance and another for Security Service. The annual charges are Rs. 60000/- and Rs. 40000/- for both the contracts respectively. Should TDS u/s 194c be deducted or not??
Kindly give reference also.
Kindly give reference also.
Rupesh Jain
(Expert)
16 May 2016
yes tds to be dedcted u/s 194C, its will not make two person due to two contract.
Ankit Parashar
(Querist)
16 May 2016
Is there any reference sir.......Kindly give
Rupesh Jain
(Expert)
16 May 2016
you are telling contract with the same party and you are paying more than Rs. 75000/- in year to single party u/s 194C of income tax act.
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