TDS on payment made to CA on contract basis
This query is : Resolved
28 September 2010
Our organisation has hired CA's on contract basis and is making payment of a consolidated sum on monthly basis. Under which section should TDS be deducted on such payments i.e. u/s 192B (Salary) or 194J (Professional Services) and why? Also should the company allow deduction u/s 80C while computation of income for purposes of TDS?
28 September 2010
194J only becoz you are hiring him as a contract basis and CA is a professional. so 194J is correct.
if he is an employess then TDS needs to deducted on the basis of Salary.
if it is 194J then no question of computation of income so no need of 80C deductions
if he is an employess then TDS needs to deducted on the basis of Salary.
if it is 194J then no question of computation of income so no need of 80C deductions
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28 September 2010
Agree with Mr. Sudhakar
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