18 January 2010
As per section 194-C of the Income-tax Act, 1961, whether Association of Persons and Body of Individuals are liable to deduct tax at source from specified payments made to resident contractors.
18 January 2010
Section 194C provides that “any person responsible for paying any sum to any resident (hereinafter in this section referred to as the contractor) for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and......Hence Sec 194C is applicable to AOP & BOI's also.
Also Budget 2008 introduced the burden of deduction of tax under this section to Association of Persons and Body of Individuals also, whether they are incorporated or not.
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