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anonymous (final student) (42 Points)

24 January 2008

hi all..

should tax be deducted under 194C for payment to security agencies?

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8 Replies

N R ARUNA (Student) (44 Points)
Replied 24 January 2008

yes it should be deducted

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(Guest)

Yes @ 2.06 or 2.266 as the case may be

CA S Sundararajan (CAO) (536 Points)
Replied 25 January 2008

Ofcourse , Ms.Uthra,Tax has to be deducted on the amt paid or payable to Security agencies. Privided , gross amount payable to the mexceed Rs 20k. Rate may differ with type of deductee.

CA S Sundararajan (CAO) (536 Points)
Replied 25 January 2008

Person: Indl,HUF,BOI& AOP, payment ,payment made morethan 10 lakhs - 2.266 % and lessthan 10 Lakhs -2.06%. Person : Firm Taxable income exceed Rs 1Crore-2.266% Taxable income not exceed Rs 1Crore-2.06% Person:Company Taxable income exceed Rs 1Crore-2.266% Taxable income not exceed Rs 1Crore-2.06%

(Guest)

PLZ SEND RECENT AMENDMENTS OF INCOME TAX (PE-11)

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anonymous (final student) (42 Points)
Replied 25 January 2008

thanks to all!!

CA Chaitanya (PRACTISING CA) (4283 Points)
Replied 26 January 2008

Yes it should be deducted if u/s 194J

M.Sriram Shenoy (CA Final) (814 Points)
Replied 28 January 2008

Certainly tax has to be deducted at source for security charges if the deductor happens to be a person, other than an individual(not liable to tax audit) or HUF.