Tds applicability
This query is : Resolved
23 September 2012
Hello,
Tds under which section will be applicable for below case 94J or 94C?
Two comapnies are there ABC Ltd & XYZ Ltd, ABC Ltd has 400 employees and XYZ has 1 employee as General Manager, who works for ABC Ltd being employee of XYZ Ltd.
For this arrangement both the compnies has mutual contract betwwen, every month ABC Ltd gets Debit note/ Invoice with Service Tax for his Salary from XYZ Ltd .
Please advice under which section with reason tds is to be deducted.
regards,
preeti
Hello,
Tds under which section will be applicable for below case 94J or 94C?
Two comapnies are there ABC Ltd & XYZ Ltd, ABC Ltd has 400 employees and XYZ has 1 employee as General Manager, who works for ABC Ltd being employee of XYZ Ltd.
For this arrangement both the compnies has mutual contract betwwen, every month ABC Ltd gets Debit note/ Invoice with Service Tax for his Salary from XYZ Ltd .
Please advice under which section with reason tds is to be deducted.
regards,
preeti
23 September 2012
The wording of the contract will throw light on the issue. If it is a consultancy contract, 194J will come into play. (This is normally the case) On the other hand, the contract is for some deliverables... which is normally the case in case of GPS(Global positioning system) or KPO (konwledge process outsourcing)kind of companies. In that case 194C will come into play.
23 September 2012
194J Tds on Professional fees @10% is applicable
Message likes :
1 times
29 September 2012
But if you see in this case it is a reimbursement of expense for Comapny XYZ. Ltd and on reimbursement there is no tds deduction.
Please advice.
But if you see in this case it is a reimbursement of expense for Comapny XYZ. Ltd and on reimbursement there is no tds deduction.
Please advice.
30 September 2012
Sorry to understand this as REIMBURSEMENT when you say that both the companies are having mutual CONTRACT. It can not be said to be reimbursement.
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
