CBDT Circular on levy of surcharge on payments to contractor and sub-contractor

0
815

Payments to contractors and sub-contractors – Levy of surcharge

Circular : No. 539, dated 13-7-1989.

1. According to the provisions of section 194C any person responsible for paying any sum to any resident contractor for carrying out any work in pursuance of a contract between the contractor and the agencies specified therein shall, at the time of credit of such sum to the account of the contractor or payment thereof in cash, etc., deduct an amount equal to 2 per cent of such sum as income-tax on income comprised therein. The agencies are :

(a) the Central Government or any State Government; or

This content is for annual and Semi Annual members only.

Log In Register