16 January 2014
I have a query about work contract if I pay to any person Rs. 25000 for removing scrap and scrap's value is Rs.80000. and the contractor take that scrap and Rs 25000 towards his remuneration however am I liable to deduct TDS.
17 January 2014
I differ with the answer.... The limit for TDS u/s 194 C is Rs.75000. If the contract value exceeds, then one has to deduct tax at source... Ok
17 January 2014
It is OK sir, But to have better control we need to deduct TDS on this amount. Suppose in the same FY there may be some transaction with same party & limit exceeds. So in my opinion we shoud deduct TDS. Waiting for further advice in this regard
CAclubindia
