In ITO v. Shankar [2010] 127 ITD 316{Chennai]
Description:
Deduction of tax at source was mandatory under section 194C in every case where the payment to a sub-contractor exceed Rs.50,000 in aggregate for a given year.
Source:
1. www.tpcc.in
2. The Tax Referencer .Volume117. Issue No.2 10 January2011 Page No.15
Our comment:
If a payments to Sub- contractor during a year exceeds Rs.50,000 TDS provisions are applicable with retrospective effect.
If a payments to Sub- contractor during a year exceeds Rs.50,000 TDS provisions are applicable with retrospective effect.
