17 December 2009
hii Dear sir i wanted to know about the Chargeability of TDS: one party who does the work of printing audit report. Co pays 40000 for printing 100 audit report ok now payment made. co paid 2% tds on 40000and exp booked under printing and stationery and 2% effect of TDS net paymnet made to party. my query is that whether prin& stat charged to TDS? party ledger shows less TDS.party comes first time.cheque issued to party also. undr which head TDS deducted pls xplain
17 December 2009
It is contarct of printing (i.e., it is also a work) which is covered under section 194C of the Income Tax Act and tds has to be made on this type of payments also.
CAclubindia
