Dinesh Kumar (B.Com) (22 Points)
16 August 2022Dear all,
In our factory premises we installed solar power plant , cost of material & installation is more then 3 crores, which tds section is applicable on this transaction, 194Q & 194c Both or 194Q & 194 J
Ravinder Singhal
(Compliance)
(497 Points)
Replied 16 August 2022
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 16 August 2022
CMA Narendhar Reddy
(Practice)
(50 Points)
Replied 05 January 2024
194C Applicable in your case if cost of material & installation done by same party under one Invoice;
Otherwise 194Q & 194J Applicable
194Q Applicable for Goods
194J applicable for installation
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 18 January 2024
No need for tds cause installation is not repair to claim it as technical repairs. Only labora install everything but not engineer. Check if tds is applicable on labor
(If payment is made for any technical service, TDS has to be deducted at 2%, as prescribed by Section 194J. Technical services include software development, website design and maintenance, audio or video recording, and related activities like photography or editing work.)
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 18 January 2024
Tds on labor 194 c applicable
Tds on professional fee is applicable if the engineer designed the outlay to install panels at precise points to optimise energy -194j if not not applicable
Dr. Asset
Dr. Installation
Dr. Carriage inwards
Dr. Dismantling charges
Dr. GST
Cr. Tds on labor
Cr. Tds on professional fee
Cr. Dismantling provision
Cr. Bank
CAclubindia
