vijay jain <vijayjainintouch @ ...>
Date: Fri Oct 21, 2005 4:57 am
Subject: TDS on Proprietorship concern U/S 194 C vijayjainint...
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Dear Guys
Can any one of you clarify me whether TDS on Contract
is applicable to Individual(proprietorship) subject to
Audit u/s 44 AB because section does not specify
individual in the list of assessees enter into
contract with Contractor.
For eg. A is a prop. and enter into contract with B
(Transporter)- whether this section applies.
Further it is specifically stated in section that this
section applies only when there is relationship of
Contractor & Subcontractor.
Kindly clarify
Regards
Vijay
R.Singhvi & Associates
Chartered Accountants
F-113, Ground Floor,
Central Chambers,
2nd Main Gandhinagar
Bangalore-560009
Ph : (+91) 080 22281573
: (+91) 080 22205587
Email : vijayjainintouch @ ...
TDS u/s 194C will have to be deducted even in case of an individual or HUF.
Sec 194C(1) i.e payment to contractors was not amended by the Finance Act 2002 & therefore the limits under 44AB are not applicable here.
However sec 194C(2) has been amended .Therefore in the case of payment to sub contractors the limits of 44AB will aplly.
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