Tds query- very confusing
Querist : Anonymous
Pl. look into the query:
ABC (Firm) is rendering medical services to a Hospital on account of performing some Tests.
Abc firm is raising monthly invoices to him as under:
Gross-100
fee-60 (Retained by Hospital)
Net-40 (Hospital will make payment after deducting TDS @10%) to ABC firm.
My question is that whether our client ABC firm is liable to deduct TDS under sec 194J on amount of Rs. 60/- (as mentioned above)???
Pl. resolve the query.
Thanks
Querist : Anonymous
can u pls. explain it further bcoz i am very confused about this query on the point of 60/-(retained by Hospital as it is their income only)
Pl. xplain it further for me....i shall be highly thankful to u.
Thanks
1. If it was the income of Hospital, then why the invoice was Rs 100?? You just send the invoice for Rs 40. I believe it is a case of contract testing.
2. In any case, TDS shall on Rs 40 and it is the hospital who is liable to deduct TDS on the same.
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