Nature of payment made to naukri.com for services?
This query is : Resolved
Sushant Mahajan
(Querist)
24 September 2013
What will be the nature of payment made to Naukri.com for taking its services to hire staff?
Also, will any TDS be liable to be deducted?
Please reply.
Also, will any TDS be liable to be deducted?
Please reply.
Ajay Mishra
(Expert)
24 September 2013
Hi
Please confirm....
You are taking service on contract basis or otherwise.
Hi
Please confirm....
You are taking service on contract basis or otherwise.
Sushant Mahajan
(Querist)
24 September 2013
Sir, there are two assessee companies.
One has made payment on contract basis.
2nd company has made payment just otherwise.
One has made payment on contract basis.
2nd company has made payment just otherwise.
Ajay Mishra
(Expert)
24 September 2013
I know, then I ask you question in this regards:
As you know that when one company make payment on contract basis, then it will deduct as par section 194C of the IT Act, 1961.
In case of second company unless it not defined the nature of payment it can not deduct TDS.
As you know that when one company make payment on contract basis, then it will deduct as par section 194C of the IT Act, 1961.
In case of second company unless it not defined the nature of payment it can not deduct TDS.
Ajay Mishra
(Expert)
24 September 2013
Hi
Generally when you are taking services from other company, whether on contractual basis then you have made some agreement and in which you have made payment terms which are subject to applicable TDS or not. If the agreement is silent about it then you will pay the amount of tax as mutual consent with parties, like you can do barter deal etc to escape the tax.
If the contract of service is mentioning the TDS provisions then you will make payment to naukri.com on deduction of tax as per section 194C of the Income Tax Act, 1961.
Generally when you are taking services from other company, whether on contractual basis then you have made some agreement and in which you have made payment terms which are subject to applicable TDS or not. If the agreement is silent about it then you will pay the amount of tax as mutual consent with parties, like you can do barter deal etc to escape the tax.
If the contract of service is mentioning the TDS provisions then you will make payment to naukri.com on deduction of tax as per section 194C of the Income Tax Act, 1961.
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