What is 194J A & 194J B?

What is 194J A & 194J B?

(i) Section 194J(A) of the Income Tax Act is related to TDS deduction on any sum paying as fees for Technical Services. (ii) Section 194J(B) of the Income Tax Act is related to TDS deduction on any sum paying as fees for Professional Services. 4. Distribution or exhibition of cinematographic films.

Is service tax applicable on 194C?

Service tax, VAT or similar levies are not consideration for any contractual payment or consideration payable pursuant to any contract. Generally agreements provide that all such levies shall be charged as may be applicable at the relevant time. 194C – works contracts payment to contractors and sub contractors.

Who is required to claim TDs under section 194C?

Section 194C of the Income Tax Act states that any person making payment to a resident person, who is carrying out any ‘work’ in terms of the contract between the ‘specified person’ and the resident contractor, is required to deduct TDS.

When does service rendered fall under section 194C or 194j?

Answer: Routine, normal maintenance contracts which includes supply of spares will be covered under section 194C. However, where technical services are rendered, the provision of section 194J will apply in regard to tax deduction at source.

Is the law of TDs you / s 194C intelligible?

Non-compliance with s. 194C has draconian consequences for the assessee. Sadly, due to numerous legislative amendments, CBDT circulars and conflicting court rulings, the law is not very intelligible.

Is the supply of spares covered under section 194C?

Accordingly, provisions of section 194C will apply in such cases. Question 29: Whether a maintenance contract including supply of spares would be covered under section 194C or 194J of the Act? Answer: Routine, normal maintenance contracts which includes supply of spares will be covered under section 194C.