GOODS KEPT IN SOMEONE'S GODOWN I.E, WAREHOUSING AND EVERY MONTH WE ARE RECEIVING BILL FROM THE PARTY WHO HAS WAREHOUSE. SO MY QUESTION IS THAT WAREHOUSE WILL BE APPLICABLE FOR 10% TDS (194I) OR IT WILL BE CONTRACT AND TDS WILL BE APPICABLE @ 2% (194C). PLEASE LET ME KNOW IMMEDIATELY.
Menu
Goods kept in someone godown will be rent or contract
Replies (8)
10% TDS u/s 194I as you have taken the premises on rent for warehousing. It is not a contract and hence TDS cant be u/s 194C
according to me, its rent but i am not sure
I think if the service provided by them is comprehensive where in they take care of the goods as well see to it that they are not spoiled and also release goods directly to your consumers on you sending the bill etc. then it is in the nature of the contract.
If you have only hired the place for storing the goods, then it is under rent.
I think When confusion about tds deduction higher rate of deduction is better.
So 10% tds deduction is correct.
Agreed with Nayana.
As higher Rate of TDS is always prefered in regard of confusion for the safer side
As per my view 10% tds to be detected.
Dear sir, it is surely a rent under section 194(i). There is also a case law on it which i will paste for all soon. Regards
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
