TDS U/S 194 J OR 194C?

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HI..... I HAVE A QUERY PLEASE REPLY......

 

One of my friend is a practicing cost accountant.. He also takes classes in a reputed institution  where he is appointed on contractual basis...... He is paid huge remuneration.. say 18 lacs p.a. (just an example)... now he wants to know whether he is liable to TDS u/s 194j or u/s 194c...... The institute deducts tax u/s 194 j @ 10% but he claims that profession of cost accountancy & faculty does not come under definiion of specified profession. Since he is appointed under a contract for 2 years.., so he wants his TDS to be u/s 194c @ 1%....
Although he may claim refund.... but he wants to know whether his stand is correct or not...

please reply..... I'm waiting eagerly......

thanks in ADVANCE

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On 24 October 2010 at 18:16 Report
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Student
286 Points Joined May 2010

hi,

 

according to me TDS shall be deducted u/s 194J @ 10%.......

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On 24 October 2010 at 18:51
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Dear Nishant,

Your frend provide for Professional services for Institute nothing is contractual like support services

He is liable to deduct tds u/s 194J.

He is contact basis in Institute nothing is permanent employee of Institute. I think you read some example in book

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On 24 October 2010 at 19:28
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Chartred Accountant
435 Points Joined May 2010

TDS should be deducted under section 194J.

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On 24 October 2010 at 20:42
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Dear Nishant,

Your frend provide for Professional services for Institute nothing is contractual like support services

He is liable to deduct tds u/s 194J.

He is contact basis in Institute nothing is permanent employee of Institute. I think you read some example in book

 

thanks Rahul Sharma sir,  but is his service not covered under SERVICE CONTRACT....liable to TDS under 194c

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On 25 October 2010 at 12:57

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