We paid as a daily labour of Rs. 103000.00 in 7 installment to a labour in a Financial Year, but he has no Pan card, What should we do?
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Tds deduct compulsory or not
Replies (6)
tds needs to be made @ 20% under section 194C since the recipient does not possess PAN
TDS to be deducted at a higher rate @ 20% if PAN is not available
@ Abhijit.,
Can You give some details...?!
Daily labour means "Is your employee? or Labour Contractor...?
Can You give some details...?!
Daily labour means "Is your employee? or Labour Contractor...?
If it is "contract of service" then the employer is liable to deduct TDS u/s 192 if and only if amount paid to employee exceeds the basic exemption limit. otherwise (if it is a "contract for service") it is liable to deduct TDS u/s 194 C as it exceeds aggregate amount of 100000 even paid in installments.
Labour Contractor Sir, But if we deduct TDS 20% the work will be hamper, so what will we do now? If there are any way to record our books correct without deduct any TDS, they are daily labourer.
1. Ask contractor to obtain PAN now,
2. then take declaration from him along with CA certificate U/s. first proviso to section 201 (1)
3. ask contractor to file return before due date or your companies return
4. Pay interest from the date TDS required to be deducted till filing of contractors income tax return
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