A Pvt Ltd Co. has entered into a contract with another Pvt Ltd Co. for the Development of a software Please Suggest wheather TDS to be deducted will be that of Professionals or that of contractors
2 Replies
Sorabh Gupta
(Manager ( Taxation ))
(877 Points)
Replied 01 June 2009
Dear Manish
As you told that service is " DEVELOPMENT OF SOFTWARE " , i don't think it is covered under professional OR technical services u/s 194 J , it should be covered u/s 194C as there is contract for development of software in which they have to develop a new machine whcih is to be capitalised after it is ready to use...........
May be some other have different opinion ........................
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 01 June 2009
TDS Contractor u/s 194C is enough for this case.
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