Tds
This query is : Resolved
25 June 2013
Dear Caclubindia
1. one of my client has provided service for machinery repairs & installation. he falls under which section 194 C or 194 J
2.what is a/c head for bank loan processing fees of 9 lacs .
3.monthly payment made to enginner on site shld b salary/ wages / prof.fees a/c
thnx
1. one of my client has provided service for machinery repairs & installation. he falls under which section 194 C or 194 J
2.what is a/c head for bank loan processing fees of 9 lacs .
3.monthly payment made to enginner on site shld b salary/ wages / prof.fees a/c
thnx
25 June 2013
1. If machinery repair & installation is a part of AMC contract then sec 194C.
2. you can make separate head or can put it in Financial Charges Bank.
3. If engineer is permanently work for your company and do not work for other , then its a salaried employee.
2. you can make separate head or can put it in Financial Charges Bank.
3. If engineer is permanently work for your company and do not work for other , then its a salaried employee.
Message likes :
1 times
25 June 2013
1) Sec 194C will be attracted
2) Show as Processing Fees it will form part of Finance Charges. TDS not required to be deducted on this payment.
3) Depends on the nature of service. If he is providing service in the capacity of a consultant then show it as professional fees deducting TDS u/s 194J. If he is working as an employee (Be it permanent or contractual) show the amount as Salary deduction TDS u/s 192.
2) Show as Processing Fees it will form part of Finance Charges. TDS not required to be deducted on this payment.
3) Depends on the nature of service. If he is providing service in the capacity of a consultant then show it as professional fees deducting TDS u/s 194J. If he is working as an employee (Be it permanent or contractual) show the amount as Salary deduction TDS u/s 192.
25 June 2013
the person is neither possessing a degree nor does he have a contract with a co., but he has the knowledge of reparing machineries. amount is 50000/-p.a.u/s 194 J / C is applicable
25 June 2013
Section 194C will be applicable. TDS not required to be deducted since the amount is below the threshold limit of Rs 75000/- p.a.
Message likes :
1 times
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
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- Short Term Gain Reporting ITR
- Missed TDS
- Rent claimed on building given on permissive possession basis
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- DUE DATE FOR ITR FILING
- F&O reporting in ITR
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
