Tds on services from ca
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 November 2014
Hello,
we, pvt ltd co, are going to hire a CA on retainer-ship basis for a year, as CA is asking for holding of COP together with working with us.
However, one of our rule is making one year bond of Rs.48000, either pay at beginning or pay monthly by Rs.4000. This bond is for security purpose that CA continuously will giving his services to us for one year. After completion of one year such amount of bond will be repayable to CA.
So my question is,
1) TDS will be deducted as per 194 C or 194 J? AND
2) Is there any tax effect on such bond of Rs.48000 for either CA or on us?
we, pvt ltd co, are going to hire a CA on retainer-ship basis for a year, as CA is asking for holding of COP together with working with us.
However, one of our rule is making one year bond of Rs.48000, either pay at beginning or pay monthly by Rs.4000. This bond is for security purpose that CA continuously will giving his services to us for one year. After completion of one year such amount of bond will be repayable to CA.
So my question is,
1) TDS will be deducted as per 194 C or 194 J? AND
2) Is there any tax effect on such bond of Rs.48000 for either CA or on us?
Nikhil Kaushik
(Expert)
14 November 2014
there should not be any tds on the bond amount. the normal retainership paid to CA will attract 194J
Message likes :
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Nikhil Kaushik
(Expert)
14 November 2014
there should not be any tds on the bond amount. the normal retainership paid to CA will attract 194J
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