Whether TDS is required to deduct from Security Deposit & canteen Contractor deducted from Security /Canteen Bill Every Month
Note :Security Deposit is refundable at the end of the contract except any damages
2 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 29 May 2015
If SD is refundable, no need to deduct tax on it at source. But if payments are made to contractor against monthly bills, then tax is deductible as per 194C
Sourabh Jain
(Credit Manager)
(62 Points)
Replied 29 May 2015
Tds is not deductible on payments which is non- refundable u can inform them about it as there is no liability on them otherwise file return to claim which is deducted as part of Tds..
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