[5] No deduction shall be made from the amount of any sum credited or paid or likely to be credited or paid to the account of, or to, the contractor, if such sum does not exceed thirty thousand rupees :
Provided that where the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year exceeds 50[one lakh] rupees, the person responsible for paying such sums referred to in sub-section [1] shall be liable to deduct income-tax under this section.
thirty thousand and 1 lakh relates to?
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section 194C
Replies (1)
Sum which is paid or payable to the contractor.
30 thousand is to be seen for 1 time payment and 1 lakh is to be seen for the whole year.
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