our client has given advertisment in newspaper toi regarding vacancy 4 employee. they hav billed 60000 so will tds b applicable u/s 194c
tarak nath shaw
(Audit Clerks)
(45 Points)
Replied 29 November 2010
yes, sec194C is applicable in this case with -1% or 2%.
TDS is not required to dudect tax on payment of Govt. agencies only.( circular no.-715, dated 08/08/1995.)
Devendra
(Chartered Accountant)
(4775 Points)
Replied 29 November 2010
Dear Ankss,
1) Yes. In your case TDS is to be deducted on payment made towards advertisement u/s 194C.
2) If the deductee is an Individual, then TDS is to be deducted @ 1% and if deductee is a Pvt. ltd co. or a Regd. firm, then TDS is to be deducted @ 2%.
3) If the deducteee does not quote his PAN then TDS is to be deducted @ 20%.
4) Remember that single bill amount should be above Rs. 30000 and the aggregate amount should be Rs. 75000 during the whole year.
Regards,
Devendra P Kulkarni
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 29 November 2010
yes agree with mr devendra he is correct and good explanation is given by him
Anish
(Artical)
(25 Points)
Replied 29 November 2010
Yes Right 194C is applicable in case of Company 2% and other 1%
priya
(student - article)
(45 Points)
Replied 29 November 2010
Yes.. Devendra is right. Only if point no.4 is satisfied, we gotta see the other criterias.
Very good explanation.
Santhosh Poojary
(SIEMPRE AHÍ PARA TI)
(15607 Points)
Replied 29 November 2010
the single bill amount should be above Rs. 30000 and the aggregate amount should be Rs. 75000 during the whole year to attract TDS
CA Mudit Agarwal PGDFM,MCP,IFR
(Dy. Manager (Taxation))
(289 Points)
Replied 30 November 2010
agreed with Mr. Devendra...........
Rakesh R Sharma
(Self)
(32 Points)
Replied 30 November 2010
yes,
agreed with Mr. Devendra...........
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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