Bank Guarantee revocation work

297 views
User Avatar

880 Points Posted on 03 November 2022
we are paying amount towards revocation of bank guarantee lying with custom Dept. to third person .The amount is Rs.50000/-

Can tds required to be deducted u/s 194J or 194C.
0 Reply Share Follow
On 03 November 2022 at 10:04 Report
Replies (3)
Quick Summary
This discussion explores the tax implications of paying a third party to revoke a bank guarantee held by the customs department. It questions whether TDS under Section 194J or 194C is applicable to the Rs. 50,000 payment. While payments directly to a bank typically don't attract TDS, paying an intermediary may trigger TDS under Section 194C.

User Avatar

SEO Sai Gr. Hosp.
212455 Points Posted on 03 November 2022

What is the commission  charged by third party?

Reply
On 03 November 2022 at 12:52
User Avatar

880 Points Posted on 05 November 2022
50000/-
Reply
On 05 November 2022 at 12:09
User Avatar

SEO Sai Gr. Hosp.
212455 Points Posted on 05 November 2022

Generally it is to be given to bank, where there is no TDS liability.

But if you are paying to any person other than bank, TDS u/s. 194C will be applicable.

1 Reply
On 05 November 2022 at 14:22

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Export Compliance
  2. Sale of plots in open land
  3. Income tax query
  4. Best CA Inter coaching in laxmi nagar
  5. HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
  6. Unregistered Association of Persons (AOP) Agreemen
  7. Intimation u/s 245 of income tax act
  8. Ewaybill query
  9. IDS Refund: GSTR-2B Invoice Not Validated in State
  10. Self assessment tax paid not reflected in ITR2 fil

More recent discussions | Post

Related Topics :

Loading