TDS u/s 194B and 194C, accounting heads

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Full Text of the Document

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....ity, Life Insurance Corporation and Companies, Two new sections, viz,. Section 194B and 194C have also been introduced in the Income-tax Act. Section 194B provides for deductions of Income-tax at source from income by winnings from any lottery or crossword puzzle. Section 194C provides for deductions of Incometax from payments made to contractors and Sub-contractors. The Board have decided in cons....