Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2012
If a public sector undertaking treats its employees as contractors, because of the bond agreement made with the employees during their appointment, in which category the employer deduct TDS on the amount of salary paid to them?
okay we will deduct it according to Sec 192. but if their total income for the financial year dont exceed the exemption limit and the aggregate payment made to them exceeds rs. 75000 during the f.y 2011-12 are they liable to tax as per sec 194C as there is a contractual agreement?
Thanking You
okay we will deduct it according to Sec 192. but if their total income for the financial year dont exceed the exemption limit and the aggregate payment made to them exceeds rs. 75000 during the f.y 2011-12 are they liable to tax as per sec 194C as there is a contractual agreement?
Thanking You
CA PARAS BAFNA
(Expert)
04 August 2012
The nature of payment as well as work as described by you seems to be in the form of salary to employees. It matters. It is beneficial to the concerned employees also.
Deduct TDS U/s 192.
Deduct TDS U/s 192.
Message likes :
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SANYAM ARORA
(Expert)
04 August 2012
TDS will be deducted u/s 192
Yogesh Agarwal
(Expert)
04 August 2012
Agreed with the Experts...
CA BHARATH KUMAR
(Expert)
05 August 2012
salary concerned comes under sec 192
CA Manikandan.A.V
(Expert)
05 August 2012
If there is no specific employer-employee relationship mentioned in the bond i.e., only contractual terms, if the service involves professional expertise on the part of the service provider, TDS to be deducted u/s 194 J, otherwise u/s. 194 C.
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