Dear Sir/Madam,
I am in construction bussiness, I awarded a contract to individual person for flooring works, he is supplying materials and labour, can anyone please tell me what taxes applicable for both persons.
Thanking you
Ramesh
2 Replies
CMA.Baskar.V
(Cost Accountant)
(400 Points)
Replied 11 March 2010
You need to deduct TDS under section 194C at the rate of 2.266% (Since your providing contract to individual, he is the direct contractor to you).
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