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Specified Persons for Sec 194C

U.C Date : 25 Feb 2015

(a) the Central Government or any State Government

(b)  any local authority

(c)  any corporation established by or under a Central, State or Provincial Act

(d)  any company

(e)  any co-operative society

(f)  any authority, constituted in India by or under any law, engaged either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both

(g)  any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India

(h)  any trust

(i)  any university established or incorporated by or under a Central, State or Provincial Act and an institution declared to be a university under section 3 of the University Grants Commission Act, 1956 (3 of 1956)

(j)  any Government of a foreign State or a foreign enterprise or any association or body established outside India

(k)  any firm

(l)  any person, being an individual or a Hindu undivided family or an association of persons or a body of individuals, if such person,—

  • does not fall under any of the preceding sub-clauses and
  • is liable to audit of accounts under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such sum is credited or paid to the account of the contractor.In other words only assessee who are liable to audit due to turnover or receipts greater than rs. 1 crore or rs. 25 lakh as the case may be.

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