TDS provision
This query is : Resolved
21 October 2008
In our Company, we have appointed a person as a chief engineer on one year contract basis. His age is around 70 years. So we can,t take him into the payroll.
I want to know the whether we have to deduct tax as per TDS provision or on the basis Income tax slab.
I want to know the whether we have to deduct tax as per TDS provision or on the basis Income tax slab.
21 October 2008
TDS will be applicable as per Section 194C of Income Tax Act.
Payments exceeding Rs.20000 is subject to tds @ 2.0%
Payments exceeding Rs.20000 is subject to tds @ 2.0%
Guest
Guest
(Expert)
21 October 2008
As per my opinion the payment should be deducted @ 10% plus surcharge(if applicable) plus edu. cess.
Because the employee is engineer and providing the technical service to your company so it will be deducte as professional fee.
the fee for contractor can not be deducted because the rate of contractor is applicable on person who is providing the man power service. in the above case the person is providing the service not providing the service through persons.
so TDS will be applicable on fee for technical service or professional service
Because the employee is engineer and providing the technical service to your company so it will be deducte as professional fee.
the fee for contractor can not be deducted because the rate of contractor is applicable on person who is providing the man power service. in the above case the person is providing the service not providing the service through persons.
so TDS will be applicable on fee for technical service or professional service
21 October 2008
Yes 194J seems correct.
22 October 2008
Tax at source is deductible u/s 194J. If he is taken on the payroll then it will be u/s 192.
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