https://www.taxtmi.com/article/detailed?id=435 The substituted provision requires persons responsible for payment or credit to resident contractors to deduct tax at source at specified rates at the time of payment or credit, treats credits (including suspense accounts) as payments, includes supply of labour and subcontracts within "contract," and expands definitions of "specified person" and "work." It also sets exemptions for personal payments, payments below specified thresholds unless aggregate limits are exceeded, and an exemption for goods carriage contractors who furnish their permanent account number, plus invoice valuation rules when customer supplied material is involved. en-us Sat, 25 Jul 2009 00:00:00 +0530 Sat, 25 Jul 2009 21:50:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=435 The substituted provision requires persons responsible for payment or credit to resident contractors to deduct tax at source at specified rates at the time of payment or credit, treats credits (including suspense accounts) as payments, includes supply of labour and subcontracts within "contract," and expands definitions of "specified person" and "work." It also sets exemptions for personal payments, payments below specified thresholds unless aggregate limits are exceeded, and an exemption for goods carriage contractors who furnish their permanent account number, plus invoice valuation rules when customer supplied material is involved. Articles Income Tax Sat, 25 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=435