Dear Members,
I understand this topic has been covered earlier, however I am unable to get a cleaar cut answer and a proper direction.
Does a pvt ltd company have to cut TDS @ 10% for internet leased lines provided by Airtel/Vodafone/Reliance?
The contract is for 1 year payments are made monthly basis not lumsum.
Thank you.
Deduct TDS @ 2% under section 194C if annual payments exceed 100000 Rs, because this is a contract of lease
194J is applicable if it is a professional or technical service
In your case 194C is applicable
the assessee was liable to deduct tax at source @ 2% u/s 194C from the payment instead of 10% u/s 194J
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
