Section 194j
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 October 2012
Is reimbursement of construction cost covered under section 194J of the Income tax Act?
06 October 2012
194J is for Professional Fees. if a single transaction is above Rs.30000/- then tds@10% if transactions throughout the year is Rs.75000/- p.a then 10% on entire transactions. If reimbursement is clubbed with the Bill then TDS would be deducted.
If Reimbursement Bills are without supportings then No Tds.
The above construction cost is covered u/s 194C
If Reimbursement Bills are without supportings then No Tds.
The above construction cost is covered u/s 194C
06 October 2012
Agree with Vinita madam,it would be under sec 194C. But rate would be 1% if payment is made to Individual/Huf and at 2% for payment to others.
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