What is Section 194C of income tax act

Any person responsible for making any payment to a resident contractor for a contact to carry out any work or in connection to a contact for carrying out any work has to deduct TDS under section 194C of income tax act, 1961. Section 194C is also applicable to a sub contractor and any contractor supplying labour to carry out any work. As such, TDS has to be deducted by the … [Read more...] about TDS on contracts – Section 194C of income tax act, 1961