Tds deduct for annual maintenance charges
This query is : Resolved
19 November 2013
DEAR SIR
HOW TO TDS DEDUCT FOR ANNUAL MAINTENANCE CHARGES, AND WHICH SEC.
SO PLEASE SUGGEST
HOW TO TDS DEDUCT FOR ANNUAL MAINTENANCE CHARGES, AND WHICH SEC.
SO PLEASE SUGGEST
Ganeshbabu K
(Expert)
19 November 2013
if contract is for "work" which is defined u/s 194C tds can be deducted u/s 194C @2% for firms and companies adn 1% for others
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CA JATIN TALREJA
(Expert)
19 November 2013
first calculate AMC charge after including the service tax and edcucation cess .thereafter deduct TDS @ 2% u/s 194C from the gross value.
CA.Shubhneet Kaur
(Expert)
19 November 2013
TDS on AMC is deductible u/s 194C at a given rates
IF the recipient is IND/HUF- 1%
any other person - 2%
Threshold Limit:
Single payment- 30000
Aggrerate Bill - Rs.75000 p.a
IF the recipient is IND/HUF- 1%
any other person - 2%
Threshold Limit:
Single payment- 30000
Aggrerate Bill - Rs.75000 p.a
Message likes :
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CA JATIN TALREJA
(Expert)
19 November 2013
first calculate AMC charge after including the service tax and edcucation cess .thereafter deduct TDS @ 2% u/s 194C from the gross value.
Message likes :
1 times
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