194J
This query is : Resolved
31 May 2010
during audit of an assesee i found these entries :
audit fees a/c dr. 9000
taxation matters a/c dr. 9000
to xyz & co. a/c 18000
consultancy fees a/c dr.5000
to xyz pvt. ltd.5000
partners are same in both firm & co.
is tds u/s 194 need to deduct by asssse in this case or not?
audit fees a/c dr. 9000
taxation matters a/c dr. 9000
to xyz & co. a/c 18000
consultancy fees a/c dr.5000
to xyz pvt. ltd.5000
partners are same in both firm & co.
is tds u/s 194 need to deduct by asssse in this case or not?
31 May 2010
tds IS not to be deducted becoz xyz pvt. ltd. is a separate entity.
also co. do not have partners.
also co. do not have partners.
31 May 2010
Since, xyz & Co and xyz Pvt ltd are different, you have to consider the limit of Rs.20000/- for each firm/company.
In your case, payment/credit does not exceed the limit of Rs.20000/-, hence no deed to deduct tds.
In your case, payment/credit does not exceed the limit of Rs.20000/-, hence no deed to deduct tds.
31 May 2010
Agree. TDS is not required to be deducted.
31 May 2010
Due to separate entity no deed to deduct tds.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
