TDS ON PAYMENT TO CONTRACTOR

Share
Share This Thread
  1. somak ghosh

    somak ghosh New Member

    I AM AN INDIVIDUAL AND MAKING PAYMENT TO CONTRACTOR FOR BUILDING A HOUSE. DO I NEED TO DEDUCT TDS FOR MAKING SUCH PAYMENTS?
     
  2. Individuals who are not subject to Tax Audit are not required to deduct TDS.

    You are required to deducted TDS only if your professional receipts are more than Rs. 25 Lakhs or Business Sales are more than 1 Crore.

    If you dont fall in the above criteria or you are a salaried employee - you are not required to deduct TDS.
     
  3. somak ghosh

    somak ghosh New Member

    Thank you.
     
  4. somak ghosh

    somak ghosh New Member

    If I sell a flat at Kolkata to my son who lives in Delhi, is he entitled to get benefits of sec.24, sec.80C and sec 80 E ? Will anything bar him purchasing a flat by bank loan from father?
     
  5. Manoj Mehra

    Manoj Mehra Active Member

    Yes, your son would be eligible to claim these deductions.

    There would be no problem in this case and this is allowed.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
TDS on payment to contractors 194C Income Tax Dec 12, 2015
Rate of TDS Payment to Transport Contractors applicable from 2015 Income Tax Aug 20, 2015
194C - Payment to Transport Contractor Income Tax May 29, 2015
Are Individuals required to deduct TDS for payment to Contractor? Income Tax Mar 18, 2015
Cash payment to contractor Income Tax Feb 19, 2015