tds u/s 194c
This query is : Resolved
17 September 2007
A manufacturing concern,who is constructioning a building. Is tds deduction necessary on labour payment made
to contractor(i.e.tds on fixed assets)
& if tds not deduct what will be implection of this.
to contractor(i.e.tds on fixed assets)
& if tds not deduct what will be implection of this.
18 September 2007
Your query is not clear that the manufacturing concern is builder or someone else, if its builder then building is not a fixed asset for it.
But in any case TDS should be deducted u/s 194C of the IT Act. If TDS not deducted, you should pay TDS and interest thereon from your own pocket.
But in any case TDS should be deducted u/s 194C of the IT Act. If TDS not deducted, you should pay TDS and interest thereon from your own pocket.
18 September 2007
Hi Rahul,
TDS cannot be on FA but it is for the payment made to the Contractor who provides you labour.
TDS u/s 194C is applicable.
TDS cannot be on FA but it is for the payment made to the Contractor who provides you labour.
TDS u/s 194C is applicable.
Ravikumar.G
(Expert)
08 November 2007
Penalty and prosecution will attract.
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
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Query on effect of registration of property
- Visiting card purchase
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Additional trade name
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
