TaxTMI 
TaxTMI 
TDS will attract on Bonus payment to labor contractor
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....DS will attract on Bonus payment to labor contractor<br> Query (Issue) Started By: - Swapneswar muduli Dated:- 25-10-2015 Last Reply Date:- 29-10-2015 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear....
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.... Sir, Our labor contracts are raised bill for payment of bonus for financial year 14-15. In this bill should we deduct TDS or not. If yes on which ground please clarify. Regards Swapneswar Muduli....
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.... Reply By Ganeshan Kalyani: The Reply: Tds is deductible under 94C @1% if contractor is individual/Huf and 2% in case other than individual/Huf. Reply By vikram agarwal: The Reply: u/s 194C of Incom....
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....e Tax Act 1961 said that any person responsible for paying any sum to any resident for carring out any work in pursuance of a contract, at the time of credit such sum to the account of th contract or ....
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....at the time of payment by cash /cheque / any other mode, whichever is eariler, deduct an amount equal to - 1% in case of payment to Individual or HUF and 2% other than an individual or HUF as explain....
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....ed above there is clear say if your credit such any amount we have to deducted TDS except reimbursement of expenses subject to proof of document like train and air ticket.<br> Discussion Forum - Knowl....
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....edge Sharing ....