Tds applicability
This query is : Resolved
Reghu prasad.R
(Querist)
09 September 2012
if a single payment made to a party exceeds Rs.30000 for repairs and maintenance , then is T D S applicable U/s 194C for such expenditure by assuming the transaction is on contract basis? kindly reply
Dintakurthi Tirumala
(Expert)
09 September 2012
If the transaction regarding to contract basis then 194C TDS applicable otherwise no.
Assume if a work contract given to a mechanic or others to repair or to do repairs to the machines or any other for such pre-fixed amount at the time of agreement is called contract and TDS would be deduct u/s194C.
Otherwise if the work allotted to a mechanic or others to repair and the amount to be paid after the completion of such repairs as per the bills etc... expenses which are actually made then it is not the contract and not attracts 194C TDS.
If you understand then ok. Otherwise write clear about the transaction details like amount of payment,conditions, nature etc..
OM SAI SRI SAI JAI JAI SAI
Assume if a work contract given to a mechanic or others to repair or to do repairs to the machines or any other for such pre-fixed amount at the time of agreement is called contract and TDS would be deduct u/s194C.
Otherwise if the work allotted to a mechanic or others to repair and the amount to be paid after the completion of such repairs as per the bills etc... expenses which are actually made then it is not the contract and not attracts 194C TDS.
If you understand then ok. Otherwise write clear about the transaction details like amount of payment,conditions, nature etc..
OM SAI SRI SAI JAI JAI SAI
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