https://www.taxtmi.com/circulars?id=5082 Deduction of tax at source under section 194C applies to payments to resident contractors and sub contractors for carrying out any work, including service, transport, labour and works contracts; the payer must deduct tax at source at the prescribed rates at the time of credit or payment, subject to surcharge adjustments. Exemption applies where the contract consideration does not exceed the specified threshold, and an Assessing Officer may issue a certificate on application (Form No. 13C) directing lower or no deduction. Deductors must timely deposit sums, issue Form 16A certificates, quote TAN and file Form 26C annual returns, with penalties and interest for non compliance. en-us Fri, 08 Oct 1993 00:00:00 +0530 Sat, 09 Aug 2008 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5082 Deduction of tax at source under section 194C applies to payments to resident contractors and sub contractors for carrying out any work, including service, transport, labour and works contracts; the payer must deduct tax at source at the prescribed rates at the time of credit or payment, subject to surcharge adjustments. Exemption applies where the contract consideration does not exceed the specified threshold, and an Assessing Officer may issue a certificate on application (Form No. 13C) directing lower or no deduction. Deductors must timely deposit sums, issue Form 16A certificates, quote TAN and file Form 26C annual returns, with penalties and interest for non compliance. Circulars Income Tax Fri, 08 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5082