I have customer a Pvt Ltd Company making payments regularly on a contract basis for maintaining,servicing various software and hardwares to individual consultants.All individuals are being paid around Rs 5,00,000/- to 6,00,000/- every year.

Can the company deduct TDS at 2.00 % plus surcharge total 2.06 %

We have just oral contract nothing is reduced into writing.

With regards
Kashyap Vyas

Sir,

As per sec 40(a)(ia)

Any interest, commission or brokerage, rent,royalty,fees for professional services or fees for technical services or contract money which is PAYABLE, to a resident
on which tax is deductible at source under Chapter XVII B and such tax has not been deducted or, after deduction, has not been paid during the pervious year, or in subsequent year before the expiry of the time precribed under section200(1), shall be disallowed as a deduction in computing the income from business or profession.

My quary is that if the expenses is actully paid during the financail year without deducting Tds then also Sec 40(a)(ia) is applicable.

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