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Understanding Section 194C: Tax Deduction at Source on|Income Tax Deduction on Contract Payments
Section 194C of the Income Tax Act, often referred to as TDS on contract payments, applies to businesses who engage in contract services. It mandates a deduction of tax at source before making any payment exceeding certain thresholds to contractors. This regulation aims to control income flows and ensure timely tax adherence. Decoding the threshol