CA Tushar Singhania (Asst. Manager Accts & Fin.) (402 Points)
02 June 2011Please help,
I'm doing an audit and i have come across the fact that the company is paying management ffes to its holding co. TDS on the same has not been deducted. is it fine or shud they deduct TDS, if so under which section.
Thank you
Tushar Singhania
valji
(Accounts manager-MBA)
(2150 Points)
Replied 02 June 2011
WHAT TYPE OF MANAGEMENT YOU ARE ASKING FOR ,WHETHER ANY SERVICE IS TAKEN FROM HOLDING COMPANY THEN IT COME UNDER SEC 194C OR 194J DEPEND UPON TYPE OF SERVICE
CA Tushar Singhania
(Asst. Manager Accts & Fin.)
(402 Points)
Replied 03 June 2011
Mr. Valji
this general management services, depositing money/tax/duty etc. on behalf of the subsidiary. Its not proffessional, as nothing proffesional is involved, 194c is for contractor
valji
(Accounts manager-MBA)
(2150 Points)
Replied 03 June 2011
it is a not a professional service but company are provide regular service whether agreement is made or not for this service
so it may come under sec 194c
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 03 June 2011
TDS SHLD HVE TO BE DEDUCTED UNDER SEC 194C N NOT 194J AS THERE IS PRF SERVICE REC AS MENTIONED U/S 194J.
lokeshMN
(Accounts officer)
(21 Points)
Replied 14 November 2013
S M K
(CHARTERED ACCOUNTANT)
(80 Points)
Replied 17 November 2013
contract for what? If it is in the nature of Professional or technical then adopt 194 J ..and if the nature of contract is difficult to identify then better is to deduct at high rate ie adopt 194 J ..
CAclubindia
