23 June 2014
Hi Experts, Is there any liability to deduct tds for the Expenses incurred in relation to machinery erection charges, water charges, machinery maintainence charges, Job work expenses, clearing & forwarding expenses.
23 June 2014
yes if your are PVT LTD/ LTD company or partnership firm and prop. firm in which your account will be liable to get audit report u/s 44AB. then you have to deduct the tDS on erection, AMCm job work u.s 194C if you pay single bill exceeds Rs 30000/- and in a year exceeds Rs. 75000/-
in years. then on individual/ huf @ 1% otherwise @ 2% if they have PAN otherwise @ 20% of payment will be deduct by you.
23 June 2014
yes if your are PVT LTD/ LTD company or partnership firm and prop. firm in which your account will be liable to get audit report u/s 44AB. then you have to deduct the tDS on erection, AMCm job work u.s 194C if you pay single bill exceeds Rs 30000/- and in a year exceeds Rs. 75000/-
in years. then on individual/ huf @ 1% otherwise @ 2% if they have PAN otherwise @ 20% on all payment will be deduct by you.
23 June 2014
yes if your are PVT LTD/ LTD company or partnership firm and prop. firm in which your account will be liable to get audit report u/s 44AB. then you have to deduct the tDS on erection, AMCm job work u.s 194C if you pay single bill exceeds Rs 30000/- and in a year exceeds Rs. 75000/-
in years. then on individual/ huf @ 1% otherwise @ 2% if they have PAN otherwise @ 20% on all payment will be deduct by you.
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