Is tds applicable on repair and maintenance

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August undefined, 2024

Witryna29 lis 2024 · The general rule is that expenses for repairs and maintenance must be capitalized and depreciated, but there are three exceptions that the IRS refers to as … Witryna29 lis 2024 · A person or business can immediately deduct repair and maintenance expenses if the cost is $2,500 or less per item or per invoice. This is up from $500, which was the threshold through December 31, 2015. A business with an "applicable financial statement," however, has a safe harbor amount of $5,000. 2 .

TDS on Common area maintenance charges- TDS U/s. 194I or …

Witryna13 sty 2024 · A. Services of repair and maintenance of movable goods taxable under GST (Services Accounting Code 9987) 1. Maintenance and repair services of … Witryna24 cze 2024 · Income Tax Officer, held that the reimbursement of car running and maintenance charges paid to employees would constitute perquisite for which, the … bx ohio\\u0027s

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Witryna28 lis 2024 · Does repairs and maintenance attract TDS? TDS on repair and maintenance is required to be deducted under Section 194C of Income Tax Act 1961 at the rate of 1% or 2% (as the case may be) for payments to residents. Is TDS applicable on rent maintenance charges? A salaried individual should deduct tax (TDS) on … Witryna10 wrz 2015 · If repair & maintenance is going thru any contract or AMC, then you have to deduct TDS. But if it is sometimes charges then you dont have to deduct TDS. Yes, that limit of 30,000/- & 75,000/- is in section 194C If there is no contract, whatever is the limit, no need to deduct TDS. Witryna30 wrz 2016 · Service part and They charged on Service tax. 2. Material Part and They charged Vat on It. So we can deducted TDS on Both Part or DEducted only on 1st part means (Service Part). Querist : Anonymous (Querist) 30 September 2016 Sir Bill Bifuricated in Two Parts. 1. Service part and They charged on Service tax. bx observation\u0027s

TDS U/s. 194C deductible on AMC for repairs/maintenance of

Supply of repair services along with spare parts/ accessories is ...

Witryna7 godz. temu · ITAT Delhi held that eligible deduction under section 11 of the Income Tax Act cannot be denied merely on the basis of technicalities. Facts- The assessee is a charitable trust filed return of income. Since the income of the assessee trust has not been fully utilized during A.Y. a sum of Rs. 34,73,758/- was accumulated or set apart … Witryna20 wrz 2024 · Is RCM is applicable for payments made to URD Supplier under GST Act-1. Labour charges paid for Repairs and Maintenance of Electrical Components. 2. Labour charges paid for Repairs and Machinery & Equipements. 3. Labour Job work of Other. If yes then please guide related notification or circular references. bx observation\\u0027sWitrynaPlease explain TDS deduction on vehicle/car repair & Maintenance. Thanks & Regards, Sanjay Vasava. Posts / Replies. Showing Replies 1 to 1 of 1 Records. 1 Dated: 17-4-2024 By:- Ganeshan Kalyani: TDS is applicable on service portion. 1. Old Query - New Comments are closed. bxo jeans

"Witryna14 paź 2009 · WHETHER TDS IS APPLICABLE ON BOTH THE RENT AND MAINTENANCE ? CA SANJAY MUKHERJEE (Expert) Follow. 14 October 2009 Yes, if the maintenacne is a fixed amount for every month i.e. not reimbursed against actual expenses incurred. However in on maintenance TDS should be under 194C,i think. … " - Is tds applicable on repair and maintenance

Is tds applicable on repair and maintenance

TDS ON MAINTAINENCE [Resolved] Income Tax - CAclubindia

Witryna11 lut 2024 · A. Overview of Section 194C of the Income Tax Act, 1961. TDS shall be deducted under section 194C of Income Tax Act, 1961 at 1% or 2% (as the case may be) or payments by any person (i.e., Resident or Non-Resident) to a resident (i.e., contractor) for carrying out any work, in pursuance of the contract between the contractor and … Witryna26 maj 2024 · TDS will be deducted under Section 194J at rate 2% in case of fees for technical services (not being professional services) and rate reach up to 10% of such sum in any other case. Individual or HUF having a total sales, gross receipts or turnover from the business or profession carried on by him exceed 1 crore rupee in case of …

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Witryna1 lip 2015 · TDS for Annual Maintenance Contract. ... In fact T.D.S. is applicable for on going service rendered for fixing telephone cable and I.O. Box D-Link. Online ... (175 Points) Replied 31 March 2014. Hii. TDS on AMC applicable at 1% from individuals and 2% from others u/s 194C if the single payment exceeds Rs. 30,000/- and an … Witryna3 lip 2024 · It was held that annual maintenance contract services related to minor repairing, replacement of spare parts, oiling, greasing, etc., would not fall Category of …

Witryna26 maj 2024 · So far as the Revenue is concerned, sums aggregating to Rs.1,08,45,007/- as has been incurred as expenditure by the assessee on account of Annual … Witrynaannual maintenance services; The Revenue’s contention that the services were rendered in India was incorrect, since equipment was sent outside India to the non …

Witryna1 dzień temu · ITAT Delhi held that addition of rental income as undisclosed merely because tenant as wrongly deducted TDS u/s. 194J is unsustainable as landlord cannot be blamed for wrong deduction of TDS. Facts- Assessee contested addition of Rs. 3,15,000/- treating rent received from M/s VM Rubber Industries as undisclosed … Witryna8 lis 2024 · Synopsis: The Hon’ble AAR, Kerala in M/s Vista Marine and Hydraulics in Advance Ruling No. KER/58/2024 decided on September 16, 2024 has held that the activity of rendering repairing services for boats/vessels along-with supply of spares and accessories cannot be considered as a composite supply as the supply of spare …

Witryna19 godz. temu · Water is a vital natural resource that needs to be protected from pollutants (Megersa et al., 2014; WHO, 2024; EA, 2024).Currently, only 0.5%–1.0% of the total available water resources can be regarded suitable for drinking (Yan et al., 2016; Kausley et al., 2024).The quality of water can be described in terms of physical, …

Witryna8 paź 2012 · Tds on building maintenance. I want to know the TDS rate on Building maintenance in case the building maintainence is part of the agreement. Whether it is … bx ordinance\u0027s bx organism\u0027sWhere the amount is credited to the Suspense Account or any other account in the books of the person who is liable to make payment to the payee, it will be deemed to be credited to the account of the payee and the provisions for TDS on repair and maintenance will apply. Zobacz więcej Circulars 1. TDS on payment made for repair and maintenance shall be deducted on invoice value, excluding the value of GST (if such … Zobacz więcej bx ore\u0027sWitryna10 wrz 2015 · Repair and maintenance expenses are out of the preview of TDs if not covered by contract. But it is practically not possible to pay some one without … bx organist\u0027sWitryna27 maj 2024 · The facts regarding the issue under consideration is that the assessee incurred expenditure of Rs.1,75,56,680/- under the head ‘Computer Repairs & Maintenance’ during the year and deducted tax at source of Rs.2,16,904/- on payment of Rs.1,08,45,007/- under section 194C and TDS of Rs.6,71,166/- under section 194J … b-xorionik qonadotropinWitryna13 kwi 2009 · Follow 13 April 2009 Repairs & Maintenance are contract for carrying out any work and is exiligible to TDS u/s 194C. CBDT has clarified in a circulat that TDS … bx organization\u0027sWitryna27 paź 2009 · 27 October 2009 It is a works contract and hence TDS applicable. Citation :- CBDT Circular 666 dated 08/10/1993, clause 5.3, reported in 204 ITR (St) 40. But … bx oval\u0027s