Labour charges paid to labour party on tds rate ?
May be deductable ?
Example
Iron purchase 16.500 mt. Per ton broking charges 200.00
Labour Charges falls under 194C
As per 194C limit is the 75000 per annum,30000 per single transaction.
Rate of deduction is 1% for Individual&HUF,
2% for other than Individual&HUF (Company,Trust,Partnership)
As per your query TDS limit is not exceeding hence TDS deduction not required.
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