Consider Mr.X. He is an audior for a trader of computers. Mr.X gets computers for Rs.25,000 against his fees. Should the trader deduct tax u/s.194J?
Vijay Sarathi H (PARTNER) (562 Points)
28 September 2008Consider Mr.X. He is an audior for a trader of computers. Mr.X gets computers for Rs.25,000 against his fees. Should the trader deduct tax u/s.194J?
Amritansh
(Chartered Accountants)
(47 Points)
Replied 28 September 2008
If provision of TDS is applicable to that trader then he will be liable to deduct TDS u/s 194J.
CA Ravish Trivedi
(The Possibilities are Infinite...)
(772 Points)
Replied 28 September 2008
If Mr X gross receipt exceeds Rs. 40 lakhs then he is subject to deduction of Tds u/s 194J
CA. O.P. Agarwalla
(C.A.)
(2916 Points)
Replied 29 September 2008
Yes. TDS will be deducted as per provison of section 194J. Mode of payment does not effect the TDS deduction liability.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
