Experts,
1. We are going to avail the professional service from foreign country.
2. For that we are paying the advance amount (60℅ of the total transaction value) by converting USD into INR.
3. This amount will be getting credited into their branch account, which is located in Mumbai.
4. My Query :
a. Whether TDS under section 194C will attract for this transaction
or
b. 194J TDS on professional service will attract.
Pl clarify.
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Transactions in USD
Replies (2)
Quick Summary
Application Of Section 194C
The provisions outlined under Section 194C of the Income Tax Act are only applicable to either
- Works Contracts
- Labour Contracts
However, it is not applicable to any contract that deals with the sale of any goods or solely the supply of any goods or products. 194 c is applicable to only resident contractors.
Take the advise / opinion of an expert.
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