Tds on edc machines
This query is : Resolved
CA Ganesh Karthik
(Querist)
11 September 2018
Hi Experts,
Wanted your opinion on the applicability of TDS on the rentals charged for EDC machines (machines used to swipe cards) which have been installed by a third party and not be any bank.
As far as I'm aware, there is an exemption on TDS only in case of EDC rentals charged by Banks. However, if a third party (in this case pinelabs) has given the same, is TDS applicable? And if yes, under which section?
Thanks in advance.
Wanted your opinion on the applicability of TDS on the rentals charged for EDC machines (machines used to swipe cards) which have been installed by a third party and not be any bank.
As far as I'm aware, there is an exemption on TDS only in case of EDC rentals charged by Banks. However, if a third party (in this case pinelabs) has given the same, is TDS applicable? And if yes, under which section?
Thanks in advance.
KAVIRAJA ADDANGADI
(Expert)
11 September 2018
EDC Machine rental charges applicable only if it Exceeds 180000/- PA you require to deduct TDS @2% u/s 194I
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Capital gains in IT returns
- Intimation under section 245
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
