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Tds at lower rates

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(Querist)
13 March 2008 Well this seems a very simple query.The current TDS rates applicable for Professional Fees would seem to be a bit on the higher side for those professionals whose margins are on the lower side, particularly when WORK is sublet to another Professional.

In this regard , CAN A Chartered Accountant enter into a Contract with the fellow CA and deduct tax at 2.266 % since there exists a contract for the services rendered .Or is it that the Rate would be 10 % + applicable surcharge / cess only since it involves Professional Services.

Is the contractor / Sub contractor clause meant only for labour / job contracts and the like.
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alok

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alok (Expert)
13 March 2008 yes u r right subletting or sub contract is only in sec 194C and thre r no prov abt this in sec 194J.
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
14 March 2008 THOUGH THERE IS CONTRACT BETWEEN THE PROFESSIONALS IT WILL BE COVERED BY SECTION 194C
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