TDS on contractor payments: individuals and HUFs crossing turnover thresholds must deduct tax on subcontractor payments. An amendment provides that an individual or Hindu undivided family whose total sales, gross receipts or turnover from business or profession in the ... Summary
TDS on contractor payments: individuals and HUFs crossing turnover thresholds must deduct tax on subcontractor payments.
An amendment provides that an individual or Hindu undivided family whose total sales, gross receipts or turnover from business or profession in the immediately preceding financial year exceed the monetary thresholds for audit applicability shall be liable to deduct income-tax at source on sums credited or paid to a subcontractor under the contractor-payment provision.
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