MANAGER ACCOUNTS
2277 Points
Joined August 2011
In view of the Supreme Court decision in Associated Cement Co. Ltd. v. CIT [1993] 201 ITR 435, the CBDT has issued the following guidelines in regard to the applicability of the provisions of section 194C :
(vii) Provisions of section 194C would apply in relation to payments made to persons who arrange advertisement, broadcasting, telecasting, etc.
Threshold
Single Transaction = 30,000, Aggregate during FY = 75,000
Company, Firm, Co-op Soc., Local Authority = 2%
Individual, HUF = 1%
If No PAN OR Invalid PAN = 20%
RIGHT SAID BY ABOVE....