Section 194C of the Income-tax Act, 1961 - Deduction of tax at source - Payments to contractors and sub-contractors - Applicability of TDS provisions of section 194C on Contract for Fabrication of Article or Thing as per Specifications given by the Assessee

Section 194C of the Income-tax Act, 1961 - Deduction of tax at source - Payments to contractors and sub-contractors - Applicability of TDS provisions of section 194C on Contract for Fabrication of Article or Thing as per Specifications given by the Assessee - Contradiction between two Circulars of C https://www.taxtmi.com/circulars?id=2843 Payments for manufacture or fabrication to an outside party under specifications will attract tax deduction under section 194C only if the arrangement is, on its true construction, a contract for work; where property in the fabricated article passes to the assessee only on delivery and the arrangement amounts to a contract of sale, section 194C does not apply. en-us Wed, 13 Dec 2006 00:00:00 +0530 Mon, 11 Aug 2008 13:21:00 +0530 TaxTMI RSS Generator Section 194C of the Income-tax Act, 1961 - Deduction of tax at source - Payments to contractors and sub-contractors - Applicability of TDS provisions of section 194C on Contract for Fabrication of Article or Thing as per Specifications given by the Assessee - Contradiction between two Circulars of C https://www.taxtmi.com/circulars?id=2843 Payments for manufacture or fabrication to an outside party under specifications will attract tax deduction under section 194C only if the arrangement is, on its true construction, a contract for work; where property in the fabricated article passes to the assessee only on delivery and the arrangement amounts to a contract of sale, section 194C does not apply. Circulars Income Tax Wed, 13 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2843