This is Vaibhav Deshmukh from VKVA Exports and Trading.I m into Trading of Paperbags and supplied printed paperbags with customers logo to one of my customer. At the time of payment they are deducting TDS under 194 c which I'm not sure if applicable as never before any of my customers deducted the TDS on previous paperbags orders. This is first time I m facing this issue. Request experts to advise if there's any way to save TDS deduction from my payment as I have not deducted any TDS from the payment made to the manufacturer from whom I have procured the bags.
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TDS deduction under 194c
Replies (2)
If u r filling nil return or u r tax liability is 0 then u can submit form 15G/15H
15G-for other than senior citizens
15H-For Senior citizens
if there is tax liability then u can deduct this tds from tax payable and pay the balance tax amount as applicalble.
15G-for other than senior citizens
15H-For Senior citizens
if there is tax liability then u can deduct this tds from tax payable and pay the balance tax amount as applicalble.
A paperbag with a printed logo as per customer demand would classify as job work, therefore tds would be applicable. To attract provision of 194(c) one should also consider the below point:-
1) Individual billing should exceed the amount of Rs.30k or Rs.1 lac in aggregate of the financial year.
1) Individual billing should exceed the amount of Rs.30k or Rs.1 lac in aggregate of the financial year.
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