house new construction nd paid payment to contracter
194c applicable or not?
resident house payment)
For individuals' TDS deduction liability on payment to contractor/s arises u/s. 194C, if liable to audit u/s. 44AB; or u/s. 194M for all others.
Even then TDS has to be deducted and paid to government treasury.
When TO exceeds 1 Cr in preceding year, TDS u/s. 194C will be applicable in current FY.
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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