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
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