Tds


This query is : Resolved 

24 April 2012 TDS reqd to be deducted on paymt made by builder to builder association.If yes then under which sec 194 J or wht?b/c its not a contract.

24 April 2012 Payment made to association may be in the nature a contribution or subscription.
In such a case TDS is not required to be deducted.
.
For getting proper reply please mention the purpose and amount paid.
.

25 April 2012 it's subscription for taking membership -80000 in cash

25 April 2012 In my view, the subscription has been given to a mutual organisation which is working exclusively for the purpose of business and such exempt.
.
However, Section 40A(3), would be attracted as expenditure has been incurred in cash.
.


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