Tds on agriproducts

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Shreya

Shreya (Querist)
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20 December 2011 Whether Agriproducts attract TDS?

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Shreya

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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

Shreya

Shreya (Querist)
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20 December 2011 In the above case, Testing charges have been incurred for the Agriproducts.

whether this would attract TDS?

Thanks & Regards
Shreya

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

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Shreya

Shreya (Querist)
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20 December 2011 Sir, wouldn the same be chargeable to tax u/s 194J?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

Shreya

Shreya (Querist)
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20 December 2011 The case pertains to FY 2008 - 09. was there any particular notification which exempted the testing charges on agriproducts?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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20 December 2011 No testing charges was not exempted from deduction of TDS.

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