I have received amount through cash..in the PY.11-12.....
Can the payer deduct tds to me
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 01 January 2013
what is the nature of paymetn recd by you?
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 01 January 2013
Please elaborate your Query..
kindly provide further details such as..
i ) Nature of Payment: ii) Amount Received: iii) any other detail you feel is relevant for the the query raised by you.
roopanand
(no)
(178 Points)
Replied 02 January 2013
Payment to sub Contractor
Amount received:
6,00,000
5,00,000
Like that total 48,00,000/-Received
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 02 January 2013
Yes, even if you receive the consideration in cash the payer is entitled to deduct at source.
It is a different matter that he will be exposed to non compliances as he is paying such huge sum in cash.
Regards,
Rachit
(Analyst)
(913 Points)
Replied 02 January 2013
| Originally posted by : roopanand | ||
 |
Payment to sub Contractor Amount received: 6,00,000 5,00,000 Like that total 48,00,000/-Received |
 |
Payment made to sub-contractor is liable for deduction of tax at source u/s. 194C.
Its a different issue that cash payments (in aggregate per day) above Rs.20,000/- made towards expenditure incurred is disallowable u/s. 40A(3)in the hands of the payer..
Further, the payer shall also face disallowance of this expense u/s. 40(ia) on account of non-deduction of tax at source on contract payments.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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