Contractor payment exemptions remove withholding for qualifying small transport operators and individual or HUF payments made exclusively for personal purposes. No tax deduction is required from contractor payments otherwise covered by section 393(1), Table Serial No. 6(i), if either exemption condition applies. ... Summary
Contractor payment exemptions remove withholding for qualifying small transport operators and individual or HUF payments made exclusively for personal purposes.
No tax deduction is required from contractor payments otherwise covered by section 393(1), Table Serial No. 6(i), if either exemption condition applies. Transport-contractor payments qualify where the contractor owns no more than ten goods carriages during the tax year, provides a supporting declaration and PAN, and the payer furnishes prescribed particulars within the prescribed time. Payments made by an individual or HUF exclusively for personal purposes of the individual or an HUF member also qualify for no-deduction treatment.
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