Is Physical stock verification a Professional or technical services?

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MANAGER FINANCE & ACCOUNTS
61 Points Posted on 11 May 2021

Dear Sir,

Is Physical stock verification a Professional or technical services?

Reason for asking the question because TDS on professional services is 10% and that on technical services is 2% under same section 194J.

Best regards,

SACHIN A.

 

 

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On 11 May 2021 at 13:43 Report
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Quick Summary
This discussion explores whether physical stock verification falls under professional or technical services. The key distinction lies in who performs the verification, impacting the TDS rate under Section 194J. If conducted by a Chartered Accountant, it's generally considered professional (10% TDS), while if done by a B.Com/MBA graduate, it may be classified as technical (2% TDS).

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My grammar is 💯 good I
7306 Points Posted on 11 May 2021

If a CA does it, it becomes professional

if a b.com/mba does it, it becomes technical

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On 11 May 2021 at 13:50
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Chartered Accountant
24588 Points Posted on 11 May 2021
It is a professional services.

TDS under section 194J will be applicable
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On 11 May 2021 at 14:24
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tax consultant
3306 Points Posted on 11 May 2021
Depends on who does the job. i agree with yasaswi gomes
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On 11 May 2021 at 20:47

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