Neha (Article) (118 Points)
25 May 2010Dear frns..
my proprietorship firm(a petrol pump) got converted into partnership firm...I paid Rs. 25,000/- to IOC (India Oil Corporation) for getting my firm registered as a partnership firm....Do I have to deduct TDS on this amount...?
Regards
Neha Babbar
Rachit
(Analyst)
(913 Points)
Replied 25 May 2010
Registration charges does not attract any TDS provision
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 25 May 2010
I did not understand your question. Why will you pay Rs. 25,000 to IOC for registration of partnership???
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 25 May 2010
yes dear neha as far as tds issue is concerned there is no proviso in respect of registration charges but i want to know what is the nead of paying registration charges.registration charges are to be paid to registrar i think. but if there is some rules then plz let me know also.
regards
tarun rustagi
Neha
(Article)
(118 Points)
Replied 25 May 2010
my dear friends...
i m very sorry...i have wrote the word "registration" by mistake...
actully i have recently come to know that whenever any petrol pump in india changes its status, it has to intimate it to IOC & then IOC changes its(petrol pump) status in its own records, for this it charges some fees...that fees charged is Rs. 25,000/-. Please correct me if I m wrong somewhere...
Thanx & Regards
Neha
Rachit
(Analyst)
(913 Points)
Replied 25 May 2010
Neha,
I cannot comment upon the validity of the charges levied by IOC for the purpose of changing the status.
But as far as TDS provisions are concerned such charges do not fall under any category of payments mentioned in Chapter XVII of the I. Tax Act. Hence No TDS would get attracted on such payments/ charges.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 25 May 2010
| Originally posted by : Neha | ||
 |
my dear friends... i m very sorry...i have wrote the word "registration" by mistake... actully i have recently come to know that whenever any petrol pump in india changes its status, it has to intimate it to IOC & then IOC changes its(petrol pump) status in its own records, for this it charges some fees...that fees charged is Rs. 25,000/-. Please correct me if I m wrong somewhere... Thanx & Regards Neha |
 |
According to me nature of fees requires more clarifications because it may fall under section 194J i.e. charges for technical services.
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 25 May 2010
dear neha it's obvious whenever u change ur status then u will have to submit particulers about that to related authorities and may be oil corporation charges some amount for this but i don't think it's rs.25000 what do you think.
this is very big.i think there is some misunderstanding with u. plz clear ur doubt and also of mine
regards
tarun rustagi
Neha
(Article)
(118 Points)
Replied 25 May 2010
thanx to all of u...
but if u get to know anything else about this ., plz send me message about that..
thanx again..
CAclubindia
