Please 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
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
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
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
TDS SHLD HVE TO BE DEDUCTED UNDER SEC 194C N NOT 194J AS THERE IS PRF SERVICE REC AS MENTIONED U/S 194J.
TDS to be deducted under section 194C
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
