I want to know Whether Annual Maintenance Contract for Software and hardware comes under Contract. What rate of TDS to be deducted pls. explain in details.
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Tds on amc
Replies (4)
TDS to be deducted u/s 94 C @ 1% for individuals and 2% for companies provided the AMC charges are more than 30,000 / 75,000
Agree With Aanya
tds applicable
and tds at the rate of 10% will be applicable as it involves application of professional knowledge
section 194J will apply, as on payment of royalty tds has to be deducted as per section 194J and as per amended provision by finance act 2012, imparting of any information cocerning any technical knowledge and skills will be included in the definition of royalty,,,, and thus paymet for software repairing will attract section 194J.
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