Income tax- tds 194c or 194j

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WHETHER THE PAYMENTS MADE TO A GOLD APPRAISER BY THE BANK, TDS PROVISIONS ARE COVERED UNDER SECTION 194C OR 194J. PLEASE JUSTIFY THE ANSWER WITH A RELEAVANT CASE LAW
Replies (13)

194C

194J is applicable on Professional Services. Purchase of gold is not an professional services.

Agree. Gold Appraiser is not covered in the definition of professional services u/s 194J.

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;.

It is a professional service so it comes under section 194 j but not 194 c.
Yes it is a professional services 194 j
yes I have worked on concurrent audit in AB so there deducted in194j

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 .

Yes it is comes under 194J (tax on professional)

Before deciding the matter clarifiction for Professional Services in Sec.194J is to be clearly understood.

Appropriate to deduct TDS u/s 194J

In my opinion it should be treated as professional service.
Should come under 194j
Yes we deduct tds as 194j.


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