Tds
This query is : Resolved
28 September 2011
HI, I WANT TO KNOW THE PROCESS TO CHANGE THE SEC OF TDS AFTER FILLING IT.
AND AMC CHARGES ,TDS @ 10 % WILL BE DEDUCTED UNDER RENT OR CONTRACTOR .
THNXX!!!
AND AMC CHARGES ,TDS @ 10 % WILL BE DEDUCTED UNDER RENT OR CONTRACTOR .
THNXX!!!
28 September 2011
For change in Section of paid TDS pls. refer circular for "New Procedure of Income Tax payment challan correction by banks (for physical challans) from 1st September 2011".
The Central Board of Direct Taxes(CBDT) has clarified the issue vide Circula No. 715 dated 08-08-1995. The relevant portion is quoted below. "Routine, normal maintenance contracts which include supply of spares will be covered under section 194C. However, where technical services are rendered, the provision of section 194J will apply in regard to tax deduction at source." Hence Annual Maintenance Contracts(AMC) are liable to TDS. Whether Section 194C or Section 194J is attracted is to be deduced from the nature of the contract.
The Central Board of Direct Taxes(CBDT) has clarified the issue vide Circula No. 715 dated 08-08-1995. The relevant portion is quoted below. "Routine, normal maintenance contracts which include supply of spares will be covered under section 194C. However, where technical services are rendered, the provision of section 194J will apply in regard to tax deduction at source." Hence Annual Maintenance Contracts(AMC) are liable to TDS. Whether Section 194C or Section 194J is attracted is to be deduced from the nature of the contract.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Accounting treatment of AMC alongwith the purchase of Laptop
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
