Tds on agriproducts
This query is : Resolved
20 December 2011
Whether Agriproducts attract TDS?
Thanks & Regards
Shreya
Thanks & Regards
Shreya
20 December 2011
Please tell the exact nature of transaction. If you mean purchase or sale of agri products, then the same does not attract TDS deduction.
For more info on TDS/TCS see article from below link---
https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp
For more info on TDS/TCS see article from below link---
https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp
20 December 2011
In the above case, Testing charges have been incurred for the Agriproducts.
whether this would attract TDS?
Thanks & Regards
Shreya
whether this would attract TDS?
Thanks & Regards
Shreya
20 December 2011
Yes. TDS will be attracted u/s 194C.
Rate:
Individual/ HUF 1%
Others 2%
No PAN 20%
Threshold Limit:
Single Bill Rs 30000/-
Annual payment Rs 75000/- p.a.
Rate:
Individual/ HUF 1%
Others 2%
No PAN 20%
Threshold Limit:
Single Bill Rs 30000/-
Annual payment Rs 75000/- p.a.
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20 December 2011
Testing Charges are generally fixed on quantity basis or based upon a rate contract on continuous basis. In case no such rate contract is there with the party sec 194J will be applied based on technical nature of service. For more clear reply please provide the details of the bills.
20 December 2011
The case pertains to FY 2008 - 09. was there any particular notification which exempted the testing charges on agriproducts?
20 December 2011
No testing charges was not exempted from deduction of TDS.
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