Tds on commision
This query is : Resolved
01 December 2008
Hi,
I am working in company.our company is taking a service from a firm on refunds of Duty drawback.This firm has charded their fees by 0.75% of the refunds of drawback + service tax(12.36%).I want to know that on which rate we have to deduct TDS.currently we are duducting by 2.266%(194C).pls suggest me On which rate i should deduct TDS and why?
I am working in company.our company is taking a service from a firm on refunds of Duty drawback.This firm has charded their fees by 0.75% of the refunds of drawback + service tax(12.36%).I want to know that on which rate we have to deduct TDS.currently we are duducting by 2.266%(194C).pls suggest me On which rate i should deduct TDS and why?
01 December 2008
on commition under section 194H tds 10.30% should be dedut.
01 December 2008
Obviously rate of TDS depends on nature of work. So you take a clear view on this depending on actual details of service which you must be aware of.
To be on safe side, propose recovery u/s 194-H (10%) instead of u/s 194-C (2%). Then the firm will come out with copies of Bills showing TDS deductions for similar work, if made by other Companies u/s 194-C.
To be on safe side, propose recovery u/s 194-H (10%) instead of u/s 194-C (2%). Then the firm will come out with copies of Bills showing TDS deductions for similar work, if made by other Companies u/s 194-C.
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