Tds u/s 194c or u/s 194j
This query is : Resolved
07 October 2011
I would like to know the rate @ which Tax is to be deducted in case of Erection/installation/commissioning of Capex goods like Plant & Machineryor otherwise, in case where there is a specific agreement or contract & in case where there is an absence of agreement.
Whether in case of specific agreement it falls under "Works Contract" u/s.194C or U/s.194J.
In the same way in absence of any agreement, same would be deducted u/s.194C or 194J.
Kindly focus on this issue and oblige.
Whether in case of specific agreement it falls under "Works Contract" u/s.194C or U/s.194J.
In the same way in absence of any agreement, same would be deducted u/s.194C or 194J.
Kindly focus on this issue and oblige.
07 October 2011
Erection, Installation and commissioning is covered by section 194C.
194J is not applicable.
There are some notified services stated u/s 194J.
1] Medical
2] Lawyer
3] Audit
4] Interior Design
5] Technical Consultancy
6] Manpower recruitment
7] Architect.
Service in question is not covered under above seven services.
So 194C will apply.
194J is not applicable.
There are some notified services stated u/s 194J.
1] Medical
2] Lawyer
3] Audit
4] Interior Design
5] Technical Consultancy
6] Manpower recruitment
7] Architect.
Service in question is not covered under above seven services.
So 194C will apply.
07 October 2011
In this case section 194C will be attracted and you will be liable to deduct TDS at the following rates:
1. 1% where payment is being made to Individual or HUF.
2. 2% where payment is being made to any other entity.
3. 20% , if PAN is not quoted by the deductee.
The specific agreement or absence of agreement will not alter the nature and substance of transaction.
Regards
CA. Chitresh Gupta
1. 1% where payment is being made to Individual or HUF.
2. 2% where payment is being made to any other entity.
3. 20% , if PAN is not quoted by the deductee.
The specific agreement or absence of agreement will not alter the nature and substance of transaction.
Regards
CA. Chitresh Gupta
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
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- 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 ?
Trending Online Classes
CAclubindia
