chanderkant (senior accountant & consultant) (29 Points)
01 May 2014|
descripttion |
unit price |
PRICE |
|
Exhibition Promotion, Ads Materials, Gifts & Samples From Feb’14 to Mar’14 At (Ambedkarnagar, Jaunpur, Mumbai & Delhi) |
|
180963.00 |
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 02 May 2014
Yes, tax to be deducted @ 2% or 1% depending upon the constitution of payee.
Thanks,
Lokesh Rankawat
(Intern)
(47 Points)
Replied 07 May 2014
Hello Dipjyoti
Will you please refer the section please.
CA Kumar Ajay
(Following My Dreams)
(228 Points)
Replied 08 May 2014
Such a bill can be best categorised under advertising.
Section 194C says "Any person responsible for paying any sum to any resident for carrying out any WORK"
And
Work as explained in Section 194C Includes "advertising"
So for safer side and best of you interest deduct tds u/s 194C
Rate of tds will be 1% as "AAKAAR HERBALS" PAN is AEEPD1773K i.e individual.
HEM@NT G@RG
(ARTICLE ASSISTANT)
(313 Points)
Replied 08 May 2014
HELLO SIR,
Yearly Limit u/s 194C: Where the aggregate of the amounts paid/credited or likely to be
paid/credited to Contractor or Sub-contractor exceeds Rs.75,000 during the financial year,
TDS has to be deducted u/s 194C.
ASSESEE IS LAIBLE FOR TDS.
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