TDS on contract of demolition
This query is : Resolved
21 December 2009
Whether the contract for demolition of the building with a contractor attracts the TDS while making the payment to him ? Further, is TDS applicable on advance payment to contractors ?
21 December 2009
yes, it will attract TDS, as per sEC.194 C
making Payment or amount crediting to the account TDS We have to make which ever is earlier
so for making advance payment we have to deduct TDS
making Payment or amount crediting to the account TDS We have to make which ever is earlier
so for making advance payment we have to deduct TDS
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21 December 2009
Yes any payments or credit to contractor account attracts TDS u/s 194C of the income tax act.
Even advance payments attract tds
Even advance payments attract tds
22 December 2009
yes u/s 194C exceeds payments amount of Rs.20000/-
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