My client paid project finance charges to a pvt company . The doubt which arises here is that company is not group of professional . I mean there is no ca, cs or cfa. The payment is through bank of Rs 90000. Whether tds is required to be deducted under 194 j or 194c ???
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Tds under sec 194 j or 194 c
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SEC 194J is applicable for rendering professional and technical services but it does not mean that service provider should be ca, cs, cfa or cwa. If payment is made to a pvt company for project financing, tax needs to be deducted u/s 194j as it is a kind of consultancy service (consultancy for project financing). Hope it helps
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