Regarding tds
This query is : Resolved
07 July 2014
Sir
iam working in a hospital as Accounts assistant. i have a small doubt regarding tds. in our hospital we will give some lab tests to outside labs,we will be paying them on monthly basis.
what ever we are paying them, we are treating as expenditure and what ever we are receiving from patients will be included in our Income.
our auditors are saying that tds will attract for the amounts which we are paying to outside labs for tests.
if it is true what is the rate of Tds and can u explain in brief how tds will attract to that payment?
do the Needful.
Kavitha
iam working in a hospital as Accounts assistant. i have a small doubt regarding tds. in our hospital we will give some lab tests to outside labs,we will be paying them on monthly basis.
what ever we are paying them, we are treating as expenditure and what ever we are receiving from patients will be included in our Income.
our auditors are saying that tds will attract for the amounts which we are paying to outside labs for tests.
if it is true what is the rate of Tds and can u explain in brief how tds will attract to that payment?
do the Needful.
Kavitha
07 July 2014
Being a professional service it will attract TDS u/s 194J. You are required to deduct TDS @10% subject to threshold limit of Rs 30000 / - p.a.
if PAN not privided by deductee TDS to be DEDUCTED @20 %.
if PAN not privided by deductee TDS to be DEDUCTED @20 %.
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