Tds on warehouse management fee.

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Naveen

Naveen (Querist)
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19 June 2014 What should be the TDS rate on Warehouse Management Fee charged by Clearing and Forwarding Agent.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 June 2014 TDS to be deducted u/s 194C.

Rate:

Individual/HUF @1%
Others @2%
No PAN 20%.

Threshold Limit:

Single Bill Rs 30000/-

Annual Payment Rs 75000/-

CA UMESH DULAL

CA UMESH DULAL (Expert)
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19 June 2014 Follow 194 J as it is fees for technical or professional service

Rate- 10%
Limit- 30,000

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Rupesh Jain

Rupesh Jain (Expert)
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19 June 2014 194C deduct the TDS @ 1% or 2%

CA UMESH DULAL

CA UMESH DULAL (Expert)
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20 June 2014 Not agree with Rupesh. It is not work contract. It is management fee which comes under the preview with fee for technical/professional service

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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20 June 2014 Warehouse management fees of CFA not covered under section 194J.