Tds-applicablity
This query is : Resolved
18 October 2011
Sir,
We are regularly paying security service charges to Chandigarh Security services. They have provided 10 people for this services for which we are paying monthly Rs. 40000.00 and we are deducting TDS @ 2%on payment or bill credit which ever is earlier. Are the deduction in wrong percentage. Is this service covered under Professional/Technical Services and rate of Taxes @10%.
Pl. suggest.
Regards,
M.K.Mandal
We are regularly paying security service charges to Chandigarh Security services. They have provided 10 people for this services for which we are paying monthly Rs. 40000.00 and we are deducting TDS @ 2%on payment or bill credit which ever is earlier. Are the deduction in wrong percentage. Is this service covered under Professional/Technical Services and rate of Taxes @10%.
Pl. suggest.
Regards,
M.K.Mandal
18 October 2011
Security services are not covered in the definition of fees for professional services as defined in section 44AA of the Income Tax Act, 1961 and fees for technical services as defined in the section 9(1)(vii).
Although it fulfills the conditions specified in the definition of work contract. Work contract is covered under section 194C Payment to contractor. TDS would be deducted under section 194C @ 2% on security service charges payable monthly.
Although it fulfills the conditions specified in the definition of work contract. Work contract is covered under section 194C Payment to contractor. TDS would be deducted under section 194C @ 2% on security service charges payable monthly.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
