Does an opinion by a CA Firm regarding non applicability of TDS on factoring charges will hold good if the same has not been exempted by the IT dept.?
CA. Rajat Tayal (Chartered Accountant) (64 Points)
19 September 2009Does an opinion by a CA Firm regarding non applicability of TDS on factoring charges will hold good if the same has not been exempted by the IT dept.?
Rajeev
(www.rkmco.com)
(985 Points)
Replied 21 September 2009
I think factoring charges will be included in 194J , technical services . TDS to be deducted . It should be remembered that the consequences are to faced by you , not the learned CA , so i guess take a second opinion.
Definition :: A Factor is a financial institution which offers services relating to management and financing of debts arising from credit sales. The service provided by the factors is known as Factoring
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