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TDS on gold valuation charges

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(Querist)
26 November 2010 i m doing audit of pvt ltd comany engaged in the business of manufacture of jewellery in SEZ.

for valuation of gold it has paid in the fy.10-11 till 26/11/2010 Rs.21600 as valuation charges and no tax has been deducted.

is Tds applicable in f.y. 10-11 and if yea then udner which section.
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CA Anisha Ray

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CA Anisha Ray (Expert)
29 November 2010 Yes TDS is applicable. Since valuation is a professional service, the applicable section is 194J and TDS is to be deducted @ 10%.

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