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Payments made to contractors and sub-contractors-Deduction of tax at source under section 194C of the Income-tax Act, 1961, on income comprised therein-Levy of surcharge
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....omprised therein-Levy of surcharge Circular No. 505 Dated 19/2/1988 To All State Governments and Union Administrations. Sir, Subject: Payments made to contractors and sub-contractors-Deduction of tax at source under section 194C of ....
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....r makes payment to a resident sub-contractor in pursuance of a contract for carrying out the whole or any part of the work undertaken by him, he is required to deduct an amount equal to 1% of such sum as income-tax on the income comprised therein. However, no such deduction is required to be made from any sum credited or paid in pursuance of a contract, the consideration for which does not exceed ....
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....-tax Officer concerned and/or the Local Public Relations Officer of the Income-tax Department may be approached for the same. 4. Copies of the circular are available with the Director of Inspection (RS & PR), 6th Floor, Mayur Bhavan, Connaught Circuls, New Delhi-1. ....
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....bsp; Yours faithfully, (Sd.) B.E. Alexan....