TDS: U/s.194C(3)(i) introduced by the Finance Act, 2005 is prospective in nature
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 […]
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