22 January 2012
Sir, Pl. advice regarding any chage in 194c in chas of - manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from such customer.
22 January 2012
manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from such customer. TDS require to deduct in this case ? any change in 194C ?
23 January 2012
Should there be a contract between both the parties where in the other party is manufacturing and supplying a product as per the requirement of the first party then the provision of section 194C shall attract. You can refer to circular no. 715 in this regard.
23 January 2012
The then existed section has been substituted by the Finance (No.2) Act,2009 w.e.f 1/10/2009. In view of that, you may refer clause (iv) of the explanation to the post substituted section which ,I hope ,will solve your issue.
CAclubindia
