Tds by recovery agent of bank to its contractors
This query is : Open
24 March 2016
assessee is recovery of agent of various banks and financial institutions. banks are giving various work like cash collection, EMI collection, data collection, related to recovery of dues etc. and making payments to us deducting tds u/s. 194H or 194J. Now assessee employing some persons and assigning the same work but spliting the total work into various contractors and deducting and paying tax u/s. 194C. because, all such persons are not so educated, doing work of routine nature, collection of cash, cheques etc..Now TDS department is saying that tds to be deducted u/s. 194H or 194J only and not under 194C and reopen all previous cases. How to justify our contention ? can u provide any case laws regarding this ?
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