https://www.taxtmi.com/circulars?id=9551 Tax deduction at source under section 194C obliges payers to withhold tax on payments to resident contractors/sub contractors above the prescribed threshold, file quarterly particulars in Form No.26C and remit withheld amounts to the Central Government within prescribed time; failure to remit results in treatment as an assessee in default with interest and penal consequences. The Board instructs tax officers to obtain contractor data from major organisations, prioritise scrutiny of compliance, initiate penal action where statements are not furnished, and involve internal audit to protect revenue. en-us Wed, 09 May 1984 00:00:00 +0530 Mon, 06 Jun 2011 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9551 Tax deduction at source under section 194C obliges payers to withhold tax on payments to resident contractors/sub contractors above the prescribed threshold, file quarterly particulars in Form No.26C and remit withheld amounts to the Central Government within prescribed time; failure to remit results in treatment as an assessee in default with interest and penal consequences. The Board instructs tax officers to obtain contractor data from major organisations, prioritise scrutiny of compliance, initiate penal action where statements are not furnished, and involve internal audit to protect revenue. Circulars Income Tax Wed, 09 May 1984 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9551