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?
CA.Vinita Gupta
(Expert)
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
CA. Jatin Gupta
(Expert)
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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