17 September 2007
A manufacturing concern,who is constructioning a building. Is tds deduction necessary on labour payment made to contractor(i.e.tds on fixed assets) & if tds not deduct what will be implection of this.
18 September 2007
Your query is not clear that the manufacturing concern is builder or someone else, if its builder then building is not a fixed asset for it. But in any case TDS should be deducted u/s 194C of the IT Act. If TDS not deducted, you should pay TDS and interest thereon from your own pocket.
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