Suppose a person working in proprietary firm where everyone's payment made as labour contract charges and TDS Deducted in 194C, while person doing accounting work don't want that he paid as a labour contractor as TDS attract in 194C and he have to file ITR by showing a contract business.
if he will paid as accounting charges then tds would be attract or not as he getting Rs.45000/per Month , Total Rs.5.50lac year , now in return he can show 50% as a income Rs.2.75 Lac - as per New income tax rule Tax in NIL up to Income of Rs.5.50Lacs
please advice whether TDS is attract or Not
CAclubindia
