I am mannufacturer of PVC Bags and the status of business is proprietorship. My turnover will be below 40,00,000/- for the F.Y. 2010-11. Can any one advice me regarding the applicability of section 194C (TDS on Payment to Contractor)
Is there necessary to deduct TDS on Payment to Contractor.
05 February 2011
No , in this case not required to register & deduct TDS. if your turnover is above 10,00,000 then only registration & Deduction is complusary.
05 February 2011
There seems to be some mistake in the question itself.Turover of 40000 attracts nothing. Pl clarify the exact turnover of your business, constitution of your business i.e. whether proprietoship,partnership or others and turnover during 09-10.
CAclubindia
