TDS - 194M or 194C

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....DS - 194M or 194C<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 14-12-2021 Last Reply Date:- 28-12-2021 Income Tax<br>Got 1 Reply<br>Income Tax<br>Section 194M provides for TDS rate ....

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....of 5% on contracts exceeding &#8377; 50 lakh limit entered into by an Individual The question is whether an individual who is subject to 44AB audit, is liable to deduct tax under Sec.194C or Sec.194M....

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.... in respect of contract for construction of Godown which is intended to be let out. Will the answer be different if the contract is for construction of proprietor's residence? Reply By subhash sb: T....

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....he Reply: If the Individual is subject to 44AD and has TAN number then he can deduct u/s 194C, if the Inddividual is subject to 44AD and don&#39;t have tan number then he has to deduct at 194M since ....

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....the payment u/s 194M is based on the PAN number. If the same is for proprietor&#39;s residence then it&#39;s under 194M<br> Discussion Forum - Knowledge Sharing ....