Applicability on TDS on revenue share
This query is : Resolved
18 June 2022
I am running a medical lab. For the expansion purpose, i have jointly operate medical lab with some other parties who are dealing pharma business(medical store) on r revenue share basis. Medical store provide some area of their building to us and we collect swab from there. As per our agreement we are liable to 20% of gross revenue to party. In this scenario, what section of TDS applicable.
18 June 2022
194 I TDS on rent for using the premises applicable.
Message likes :
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18 June 2022
Whether the 20% share in the form of commission? It will depend upon the terms mentioned in the agreement.
19 June 2022
Is the income generated in this way covered under GST. If covered what is the rate of GST
20 June 2022
Yes, it's covered under GST 18% applicable.
20 June 2022
We have collect the amount as based on an revenue share agreement/contract. Is it covered u/s 194 I. Can we collect TDS u/s 194 C as based on this agreement.
20 June 2022
Yes you can do it......
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