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Retention money

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(Querist)
12 April 2013 what is the concept of retention money?
whether it is applicable to profeesional recipets such as a ca providing services to his client?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 July 2013 Retention money nothing but withheld amount from bill value for some specific purpose, it be warranty purpose also. generally professional work will not have any retention

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