What is the rate of TDS(and which categorywill it come into like 194J Professional Fees, 194C contract etc.) that is to be deducted on the following:
1) TDS on software purchased
2) TDS on customized software built by a software entity for some client
3) TDS on software mainteance contracts(AMCs)
Dear Yashsr,
In case 1 : TDS in this case will not be applicable provided that the details of notification is mentioned in invoice raised by the seller.
In case 2 : TDS will be applicable under section 194J @ 10%
In case 3 : TDS on AMC will be covered under section 194C @ 1% or @ 2% whichever is applicable.
Thanks...
MANUJ SHARMA AND COMPANY
Noida
CA Inter
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
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CCI
Pro
CAclubindia
