Tds on repair and maintainance
This query is : Resolved
27 November 2011
Sir/Madam,
We are auditing vouchers of a Transport Co., the are making several payment to painter for painting the trucks they own and each payment is of Rs. 7500.00 for different truck at different dates and aggregate of all payment is exceeding Rs one lakh.
For accounting, they are passing following entry:
Repair and Maintainace a/c Dr 7500.00
To Cash a/c 7500.00
Turnover of Transport co. exceeds Rs 60 Lakh.
In this regard I want to know Whether TDS is required to be deducted for Repair and Maintainance u/s 194C
Whether painting come under the preview of u/s 194 C and TDS is required to be deducted.
We are auditing vouchers of a Transport Co., the are making several payment to painter for painting the trucks they own and each payment is of Rs. 7500.00 for different truck at different dates and aggregate of all payment is exceeding Rs one lakh.
For accounting, they are passing following entry:
Repair and Maintainace a/c Dr 7500.00
To Cash a/c 7500.00
Turnover of Transport co. exceeds Rs 60 Lakh.
In this regard I want to know Whether TDS is required to be deducted for Repair and Maintainance u/s 194C
Whether painting come under the preview of u/s 194 C and TDS is required to be deducted.
28 November 2011
As the turnover of the company exceeds Rs. 60 Lakhs TDS provision will be applicable to them. And if he is making payment to one single person for painting work, TDS is required to be deducted.
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
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Rental income gst and it purpose
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
