TDS Rate in Partnership Firm for jobwork
Meet Parekh (76 Points)
13 September 2019Meet Parekh (76 Points)
13 September 2019
Kapadia Pravin
(17249 Points)
Replied 13 September 2019
RAJA P M
("Do the Right Thing...!!!")
(127171 Points)
Replied 13 September 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 14 September 2019
1. Job worker will be a separate person and employee will be a separate person. If both happen to be the same person then contract need to be verified and seen whether the same will come under the contract of employment or separately as job work.
2. If it does not comes under the contract of employment then TDS @ 1% u/s 194C need to be deducted on the labor portion (if shown separately in the invoice) if the payment for the same exceeds Rs. 1 lakhs during the year.
Please correct me if the above solution has an alternative view.
CA Arun Tiwari
(Partner)
(4230 Points)
Replied 22 January 2020
Sec 194C requires to deduct the TDS if the contractual amount on account of Job work exceeds 1 lakh then TDS will be 1 % for an Individual (Employee ).
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