A Ltd & B Ltd having an equal share in Joint Venture C Ltd. When A Ltd makes payment for the work( Covered u/s 194c) given to C ltd should attract TDS provisions. Pls tell the applcablilty and its applications if A ltd having 50% share in C ltd
22 March 2010
A, B, C all are separate assessable units. In the absence of any specific exemption from TDS for payment by Joint venture to co venturers, TDS get attracted.