hello frndz..........
plz let me know that if car repair bill exceeds (single bill) rs 20000/- in 2009-10 covers only labour portion then is TDS liable???(car used for business purpose)
there is no elemnt of material
further if there comes a bill which includes both material and labour element and if labour amount in that exceeds rs.20000 then will TDS be liable?????
Madhur,
194C has nothing to do with labour and mtl etc.U have to see whether the payment is in the nature of a contract or deemed contract.
Of course Purchases are excluded.
Now the limit is going to be 30000 & 75000 from 1st july 2010.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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