CMA Swati Agarwal (Manager- F&A) (371 Points)
24 July 2014Our company has ordered for a report in print with respect to the research made.The publisher has charged service tax on the invoice.
Do we need to deduct tds on the same, if yes under which head and section.
Kindly guide for the same.
Thanks
Swati
CA. sanjeet Kumar Ojha
(Chartered Accountant)
(272 Points)
Replied 24 July 2014
TDS Shall be deducted under section 194 C.
Limit for non deduction :
Total Sum in a FY = RS 75000
Single sum in a FY = RS 30000
Applicable Rate
if payment to Individual / HUF = 1%
if payment to other than Individual / HUF = 2%
Note :- TDS Shall not be deducted on the service tax portion (Recent Circular of CBDT)
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 24 July 2014
I think you have question that your company has contracted for printing work the report in respect of research. If I am at right. then I am agree with Mr. Sanjeet.
V Prabhakara Rao
(Assistant Manager)
(106 Points)
Replied 25 July 2014
Yes. Printing comes under Contract job so TDS under 194C to be deducted. Pls. consider the TDS Slabs.
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