Is TDS applicable on printer services?

Is TDS applicable on printer services?

Accordingly, TDS under section 194C is not applicable on printing material as per customer specification, wherein customer has not supplied any material to contractor and contractor has supplied the final product for a price, which is in the nature of contract for sale.

Can we deduct TDS on Printing & Stationery?

Answer : The payments made directly to print and electronic media would be covered under section 194C as these are in the nature of payments for purposes of advertising. Deduction will have to be made at the rate of 1 per cent.

What is slab rate of TDS?

Slabs for Deduction from Employees-

Income Tax Rate
Upto `2,50,000 Nil.
`2,50,001 to `5,00,000 5%
`5,00,001 to `10,00,000 `12,500 + 20% of Income exceeding `500,000.
Above `10,00,000 `1,12,500 + 30% of Income exceeding of `10,00,000.

Is TDS applicable on Xerox bill?

T.D.S ON PAYMENT MADE FOR XEROX CHARGES OF DOCUMENTS 05 May 2011 Yes.. section 194C will apply. if this 80000/- or 60000/- is single bill or single payment, then TDS will be deducted @ 1 % for individual & HUF, while @ 2 % for all other cases.

What is the difference between 194C and 194J?

As per my views section 194C relate to payment to contractors while 194J relate to fee for professional or technical servies. Thus according to section 194C “Technical in nature” means services providing manpower not consultancy. while section 194J relats to consultancy services.

Is TDS applicable on stationery charges?

01 October 2013 You are not liable to deduct tds being stationery is not falling u/s 194C. You ar not required to deduct tds u/s 194C unless it includes any work or supply of labour. It is also nt falling any other section require you to deduct tds.

What are the GST rates for printing & stationery?

HSN Code 4821

HS Code Description GST%
48211090 OTHR PRNTD PAPER OR PAPERBOARD ,Products include: Butter Paper, Coupon, Printing & Stationery, Printing And Stationery, Printing And Stationery Items, Printing Items, Printing Stationery 18%

What is the GST rate for printing?

12% GST applicable to Printing and Supply of Trade Advertisements: AAAR [Read Order]

What is TDS rate under section 194J?

Section 194J requires deduction of tax at source @10% from the amount credited or paid by way of fees for professional services, where such amount or aggregate of such amounts credited or paid to a person exceeds Rs. 30,000 in the F.Y. 2021-22.

What is the limit for 194J?

Under Section 194J, Rs. 30,000 is the maximum limit which is applicable to each item or payment independently. TDS under this section is also applicable on commission or remuneration or fees given to a company’s director, even though the amount is not a part of the main salary.

What is TDS rate for contractor?

TDS Rate for Contractors 1% where the payment is being made or credit is being given to an individual or a HUF. 2% where the payment is being made or credit is to be given to any other entity. If PAN isn’t quoted in the above cases, the TDS rate will be 20%.

How is TDS calculated on 194C?

Section 194C is applicable since the invoice value against the job work exceeds rs 30,000. TDS rate will be 1% as the contractor is an individual. TDS will be deducted on Rs 40,000 since the invoice specifically indicates the value of goods and services separately. Hence, the TDS amount will be Rs 400.

Is TDS deducted on purchase of computer?

Royalty includes payment received for transfer of all or any right to use computer software. Royalty includes payment received for transfer or granting of license for computer software. On purchase of software from a resident TDS shall be deducted @10% under section 194J.

What is TDS exemption limit?

Items Liable for a TDS Deduction Section 192 – TDS on salaries: TDS on salaries is deducted at the rate of the income tax slab for the relevant year. For the assessment year, 2020-2021 the exemption limit for an individual is Rs 2,50,000.

What is TDS threshold limit?

In a scenario where, credit or payment to a contractor under TDS Section 194C is below TDS threshold limit of INR 1,00,000 in aggregate in a financial year and single transaction threshold limit INR 30,000, TDS will not be deducted.

Is cess applicable on TDS u/s 195?

Rate of TDS under Section 195 TDS rates mentioned under Section 195 of Income Tax Act, 1961 gets increased by adding the applicable education cess and surcharge. For payments made according to DTAA rates, no additional education cess or surcharge is applicable.