194c vs 194j

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sanjeev kumar sinha (Querist)
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28 February 2013 1.Whether commission received by an activity of Bussiness correspondent of Bank is subject to tds u/s 194C or 194J??

2. Where the business correspondent sub contract their work to customer service point (CSP) to do work then the compensation will be subject to tds u/s 194C or 194J

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 February 2013 In my view the Business correspondents are given commission by the banks, so TDS is required to be deducted U/s 194H by the banks.
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In case the BC is an Individual , he is not required to deduct TDS unless he is covered by Tax Audit. However, if the compensation is in the nature of sub-commission, BC should also dedcut TDS U/s 194 H.
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