Tds on repair and maintainance
This query is : Resolved
anoop bhatia
(Querist)
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.
Jalpa Shah
(Expert)
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.
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