Is TDS applicable on Security contract ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2011
Sir,
if assesee enters into a contract with a security agency for providing security guards at assessee's premises, will TDS apply on such transaction ? at what rate ? under which section ?
if assesee enters into a contract with a security agency for providing security guards at assessee's premises, will TDS apply on such transaction ? at what rate ? under which section ?
CA PARAS BAFNA
(Expert)
05 February 2011
TDS is applicable Under Section 194C.
It depends upon the status of the Security Agency.
In case it is run by an Individual or HUF
TDS rate is 1% .
In other cases @ 2%.
It depends upon the status of the Security Agency.
In case it is run by an Individual or HUF
TDS rate is 1% .
In other cases @ 2%.
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C.A.Javid Patel
(Expert)
05 February 2011
Yes it is applicable under section 194C @ 1% if the payee is non corporate assessee and if corporate assessee then 2%
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