27 December 2010
Please advise me that TDS has to be made or not for the person whose income is exempt u/s 10(26) of the Income Tax Act.The TDS is u/s 194C and 194 I.
27 December 2010
Any Company or Firm making payment for any services is liable to Deduct TDS as per Secs 192-203 of IT Act. But for individuals it will be mandatory if he/she undergoes Tax Audit dyring the preceeding P.Y.
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