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Deduction of tax at source-Section 194C of the Income-tax Act, 1961-Deduction from payments to contractors and sub-contractors in bidi manufacturing industry-Clarification regarding
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....s in bidi manufacturing industry-Clarification regarding Circular No. 487 Dated 8/6/1987 Under file No. 275/30/82-IT(B) dated 25-9-1985, a Circular No. 433* was issued clarifying that the provisions of section 194C of the Income-tax Act, 1961, would apply in respect of payments made to Munshis and that would apply to payments under oral contracts also. The payments to Munshis which would ....