Tds applicability on audits of branches
This query is : Resolved
19 June 2014
Does the liability to deduct TDS arise by branches of a Trust Registeredunderthe Bombay PublicTrustAct. 1950 onpayments made to the auditors, where the amount does not exceed Rs.15,000 per audit per branch. There are total 9 branches audited by the auditor and the amount exceeds Rs.75,000 in total which has been paid in break-ups by the branches
Nikhil Kaushik
(Expert)
19 June 2014
since the tds liability is not based on branch but on the branch but overall level, TDS should also be deducted on the basis of overall payments.
Also further note that the 75000 limit you are referring to is u/s 194c. auditors are paid under 194j where limit is Rs 30000
Also further note that the 75000 limit you are referring to is u/s 194c. auditors are paid under 194j where limit is Rs 30000
Message likes :
1 times
Rupesh Jain
(Expert)
19 June 2014
TDS liability of the trust will count the payment made by his branches or trust combined.
and in our case you make payment cross the limit u/s 194 J then you have to deduct the TDS u/s 194J otherwise your exp will disallow
and in our case you make payment cross the limit u/s 194 J then you have to deduct the TDS u/s 194J otherwise your exp will disallow
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- Ito add credit side of bank
- GSTR9 Annual Return
- Form 144 TDS Return Validation error
- GST ITC as per notification 12/2023- central tax
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives resides in usa
- Form 144 TDS Return Validation Error – Mandatory Fields
- LLP audit and disclosure
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
