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
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Taxes applicable for with material contracts
Replies (2)
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).
tds under 194c should be 2.06%
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