prathipatidivya (articled assistant) (26 Points)
29 January 2016
Yash Shah
(CA Practice)
(32 Points)
Replied 29 January 2016
194C
194J is applicable on Professional Services. Purchase of gold is not an professional services.
RAHUL
(Student CA Final )
(377 Points)
Replied 29 January 2016
Agree. Gold Appraiser is not covered in the definition of professional services u/s 194J.
Sasanka Bhalaki
(Student)
(1935 Points)
Replied 29 January 2016
Hi , Divya,
Services provided by the gold appraiser to the bank is professional services. Therefore bank should deduct TDS U/S 194J.
One of my friend's father is providing such services in Andhra Bank, We use to file his returns then we came to know about that deduction. I hope ur doubt is clarified;.
Mallikarjunreddy
(Article Assistant)
(33 Points)
Replied 29 January 2016
ambati venkatreddy
(CA STUDENT)
(38 Points)
Replied 29 January 2016
Sivaramakumar
(GM-ACCOUNTS)
(142 Points)
Replied 30 January 2016
It would be more appropriate to deduct u/s194 J as the sec clearly states any fees paid for technical/professional services.Appraiser fee is a technical service.and there is no contract between the bank and the appraiser, nor he is an employee of the bank.
Profession classified u/s 44AA is not related to the above subject .
Kamal vashist
(Accountant)
(183 Points)
Replied 30 January 2016
Yes it is comes under 194J (tax on professional)
yogesh v sheth
(MANAGER)
(31 Points)
Replied 30 January 2016
Before deciding the matter clarifiction for Professional Services in Sec.194J is to be clearly understood.
Jaspal Singh
(Practising CA)
(449 Points)
Replied 30 January 2016
Appropriate to deduct TDS u/s 194J
faizanca
(AUDIT MANAGER)
(28 Points)
Replied 30 January 2016
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